Using computer algebra systems to implement mathematical models of economic problems that use linear algebra

Abstract

Abstract: Objective. Research, using concrete examples from teaching materials for bachelor's degree programmes in mathematics, on the use of computational algebra systems to implement mathematical models of economic problems that use linear algebra. Methods. The study used a combination of general scientific and special research methods: analysis and synthesis of scientific sources, comparison of approaches to solving economic and mathematical problems, system-structural analysis of digital competence frameworks, and compilation of results. The application of these methods made it possible to identify both the strengths of previous approaches and existing unresolved problems. Results. The practice of the recent years demonstrates that modern economic management, namely planning, organisation, motivation, and control, is impossible without economic and mathematical modelling. This requirement of society necessitates the proper training of specialists capable of developing appropriate methods and models, which, in turn, requires an integrated approach to teaching students of economics and mathematics. In the article, using specific examples of solving two problems from the educational material for training bachelor's degree students in mathematics, namely, an econometric problem of constructing and researching a linear regression mathematical model based on statistical data and an inter-industry balance problem, the use of MS Excel and the Maple computer algebra system for realisation of mathematical models of these problems is investigated. When comparing the approaches discussed, it was concluded that the use of computer algebra systems makes it easy to implement algorithms for solving the types of problems discussed, since mathematical symbols and symbolic computation are supported, which is very important in problems where dependencies need to be obtained in analytical form. Conclusions. The integration and use of computer algebra systems in the educational process to implement mathematical models of the economic problems that use linear algebra contributes to improving the level of professional training of students and developing their professional competencies. Keywords: economic and mathematical models, education, computer algebra system, MS Excel, Maple, linear algebra, econometric problem, inter-industry balance model.