What are the most used approximations in economics?

Question

As I progress in my self-study, I'm tired of having to search for several different approximations techniques used in economic textbooks. Sometimes the authors don't even tell the reader they are using an approximation, they just assume the reader is already familiarised with the approximation.Because of this, and to try to help me, and my fellow students of economics, I ask the following. What are the most used/useful approximations (and techniques) used in economics?My wish is that anyone whether studying alone or not, can come to this question, as they'll be sure that it will have at least some approximation related to what they want. Any help would be appreciated.Here's an example:I've read today that «$\\frac{\\Delta m_{t+1}}{m_t}=\\frac{\\Delta M_{t+1}}{M_t}-\\frac{\\Delta P_{t+1}}{P_t}$.»Well this is not an equality but an approximation, for if $z=\\frac{x}{y}$, then $\\frac{\\Delta z}{z}\\approx \\frac{\\Delta x}{x}-\\frac{\\Delta y}{y}$

Answer 1

$\\frac{\\Delta m_{t+1}}{m_t}=\\frac{\\Delta M_{t+1}}{M_t}-\\frac{\\Delta P_{t+1}}{P_t}$

If you could lay this out in english I could help you through this. I have no idea what computer language you are expressing yourself in.

You can attach it as a word document or PDF and message it to me and I will respond.

Lenny.Dendunnen