Find out What Mathematical Economics Is

Find out What Mathematical Economics Is Much of the study of economics requires an understanding of mathematical and statistical methods, so what exactly is mathematical economics? Mathematical economics is best defined as a sub-field of economics that examines the mathematical aspects of economics and economic theories. Or put into other words, mathematics such as calculus, matrix algebra, and differential equations are applied to illustrate economic theories and analyze economic hypotheses. Proponents of mathematical economics claim that the primary advantage of this particular approach is that it permits the formation of theoretical economic relationships through generalizations with simplicity. Mind you, the simplicity of this approach to the study of economics is certainly subjective. These proponents are likely to be skilled in complex mathematics. An understanding of mathematical economics is particularly important for students considering the pursuit of a graduate degree in economics as advanced economics studies make great use of formal mathematical reasoning and models. Mathematical Economics vs. Econometrics As most economics student will attest to, modern economic research certainly doesnt shy away from mathematical modeling, but its application of the math differs within the various subfields. Fields like econometrics seek  to analyze real-world economic scenarios and activity through statistical methods. Mathematical economics, on the other hand, could be considered econometrics theoretical  counterpart. Mathematical economics allows economists to formulate testable hypotheses on a wide array of complicated subjects and topics. It also permits economists to explain observable phenomena in quantifiable terms and provide the basis for further interpretation or the provision of possible solutions.  But these mathematical methods that economists use are not limited to mathematical economics. In fact, many are often utilized in the studies of other sciences as well. The Math in Mathematical Economics These mathematical methods generally reach far beyond typical high school algebra and geometry and are not limited to one mathematical discipline. The importance of these advanced mathematical methods is captured perfectly in the mathematics section of books to study before going to graduate school in economics: Having a good understanding of mathematics is crucial to success in economics. Most undergraduate students, particularly those coming from North America, are often shocked by how mathematical graduate programs in economics are. The math goes beyond basic algebra and calculus, as it tends to be more proofs, such as Let (x_n) be a Cauchy sequence. Show that if (X_n) has a convergent subsequence then the sequence is itself convergent. Economics uses tools from essentially every branch of mathematics. For instance, a  great deal of pure mathematics, such as real analysis, appears in microeconomic theory. Numerical method  approaches from applied mathematics are also used a great deal in most subfields of economics. Partial differential equations, which are normally associated with physics, show up in all kinds of economics applications, most notably finance and asset pricing. For better or for worse, economics has become an incredibly technical topic of study.

How to Expand Your Organic Growth on Facebook and Twitter for Free

How to Expand Your Organic Growth on Facebook and Twitter for Free When it comes to social media, every brand wants in on the action. It’s no secret that social media marketing works only if a brand actually has fans or followers. Amassing a respectable audience on Facebook, Twitter, Google+ (is that still a thing?), Linkedin, Instagram or any of the other platform du jour  is tough. Many brands and small businesses want their social media presence to be organic, meaning no money invested. Having a good, or great, social media presence can help any   business grow like wildflowers. But, this will only happen after it develops a large following and then works consistently to engage, educate, and cultivate this audience. Brands want the growth and audience, but aren’t willing to pay for it. Seems like a catch 22. Can a brand simply grow their social audience organically?   Is that even possible in today’s pay-to-play landscape? Here are some metrics. Here’s a 10 step recipe for growing an organic audience on Facebook and TwitterHow to Get 129% Organic Growth on Twitter and 239% on Facebook With 100% Organic Tactics No, this isn’t a fairytale in the land of make believe that is social media. It’s actually the metrics after recently (within past two months) concluding a relationship with one of my first social media clients ever. The client, let’s call them DFX (name changed), works in the financial sector so the competition is high, with tight regulations in terms of release of specific information, and it just so happens to be that within this aspect of the industry, some brands are known for tactics that fall within the â€Å"grey area† of digital marketing. After closing up with the DFX, it’s pretty clear that brands can still boost their audience even without investing money. Will it take time and effort? Absolutely, but the euphoria of surviving numerous Facebook algorithms and outperforming your competition is worth it all. Trust me, I’ve been there. So, how did they succeed in growing organically?   Here’s a 10 step recipe for growing an organic audience on Facebook and Twitter (and it even worked a bit on Google Plus too). Here’s a 10 step recipe for growing an organic audience on Facebook and TwitterKnow the Fundamentals to Grow a Social Media Audience the Right Way Organic growth is based on three fundamentals: Consistency Knowledge Being real (authenticity) Brands must be consistent. If any brand attempts to implement any of these strategies for even a month and then gives up, I guarantee that they will fail. Social media is a long-term game. It’s a marathon, not a sprint. Limited on time? No problem, just pick a few of the strategies and be relentless in executing them. Brands must know their audience (we all know what happens when we assume things about people)? Understand their patterns, their preferences, their input. Social media is always about being real. There’s no room for bots, auto responders, auto DM’s, and egg heads. It’s about conversation. Organic growth on social media is just as much about knowing, educating and maintaining current followers as it is about gaining new ones. Recommended Reading: The Six Types of Social Media Content That Will Give You the Greatest Value With that introduction, here’s how DFX grew their social media audience organically (all images and screenshots of content are used with permission). With this information in hand, any brand can launch an organic growth campaign. Recommended Reading: Facebook Marketing Strategy: Why You Need One (And How to Build It) 1. Perform a Social Media Audit After vowing to embrace the fundamentals, an important step in growth is to first assess what’s been done. Conduct a social media audit of your existing process, strategy, and flow. Calendar of content: Yes, this is number one on an audit. Without a content calendar that stresses consistency, valuable brand focused and industry relevant content the entire social media and digital effort will be sloppy. Audience mapping: Identify leaders, influencers, and key figures in the space. Content should be shaped and guided by the conversations of these industry figures. Focus the brands engagement efforts and optimize content to this audience. Additionally, the content style of others in your space should offer insight into what resonates with the readers. Timing: Content should be posted at optimal times based on the highest concentration of readers. The easiest method to start an audit about timing is to use Facebook Insights   which will highlight the trends. Frequency of content sharing and use of hashtags: Posting content at the right time is one aspect of timing. The frequency of sharing relevant content to these audiences is also important. It does take a bit of trial and error. Using hashtags can also boost reach of your content. How often is content posted? When are hashtags, if at all, used? How many hashtags? Image Quality: Unfortunately, this is a problem that many brands confront (more about this later). This should be as important as the rest of your content. Is the image shareable? Will it look right when shared across digital channels? Has it been tagged on the CMS backend? Word Choice: Brands often auto share their content without being mindful of what will actually engage their readers. Engagement vs Automation: Every brand schedules content. Automation helps, but it can’t replace human interaction and engagement. How often is content scheduled and pushed out and how often does the brand engage with its users, those who share its content? After conducting a detailed, unbiased, social audit it’s time to move on to the fun part: successful organic growth. Note: The above audit served as the ongoing reference point for the DFX social team to refine and revise its strategy. Any brand can use this audit style. 2. Build Out Your Content Calendar In order for a brand to truly grow its organic audience and, by default, its reach, it needs to be strategic about its posting of content. Creating a proper schedule that drills down to the topics, the word choice, timing, style on each social platform, what call-to-action (only one per post please), awareness of important calendar dates within the industry or relevant holidays, will focus all marketing and communication efforts. Synchronizing these efforts is the most important. Why? Knowing these critical pieces of information eases the entire flow of content to be a deliberate process. A complete content calendar spans over a few months and includes all of the postings and themes that will be focused on during this time frame. The calendar should be amenable to change, as trends shift and brands need to modify accordingly. A calendar should not only include campaign themes, but also any events, sponsorships or webinars. offers a very detailed content calendar  for free. A content calendar should not only include campaign themes, but also any events, sponsorships or...3. Try Reverse-Engineering Hashtags For several clients, I’ve found that the best way to identify which content should be posted on what days, was to reverse engineer the calendar based on hashtags. How can hashtags define an entire content calendar? Hashtags simply let a brand associate their content, tweets, or posts with a larger conversation on a global scale? Yes, global. So a brand can easily grow their page by using a hashtag? Yes!   It's like adding keywords to your message to make it globally searchable. Which hashtags are right for your brand? Use Hashtagify to identify the relevance of a specific hashtag and other relevant ones associated to the main one. Once identified, brands can then leverage this information for competitive research, content curation, and influencer mapping. Every industry has hashtags. Remember, they’re like keywords. Recommended Reading: How to Use Hashtags Effectively Without Being Annoying 4. Search For Relevant Twitter Chats Once a brand has mapped the right hashtags, go one step further by searching for relevant Twitter chats. These weekly or bi-weekly online conversations on Twitter are a secret way to grow an organic audience. Use the Twubs  to search the extensive calendar for relevant conversations: Access a global network of relevant people, engage in meaningful conversations within its industry, and identify active users all organically. For the sake of example, a company working in the travel industry. Every Tuesday, there is a conversation called #ttot, travel talk on Twitter. On this day, travel professionals from around the world engage in industry related conversations. Why not leverage this to grow your audience? Bam! Your brand has just created its content bible by reverse engineering a content schedule framed around relevant conversations, industry topics, and optimal engagement.Tuesdays are now set in terms of branded content. Continuing with the travel theme, any destination is rich with history. Why not use the popular #TBT (throw back Thursday) to highlight the changing landscape of a location over time?! With two days of content framed around hashtags, the rest of the week should be much easier to plug in. Recommended Reading: 30 Social Media Engagement Tactics That Will Boost Shares And Conversions 5. Know that Timing is Everything Once you know what to post, now it’s time to determine when to post it. Organic growth starts with knowing when your brand’s audience is online. Timing for each platform does vary. We even wrote a post the best times to post on each platform, which digs deep into the topic of timing content for optimal viewing. For a day-to-day analysis, conducted extensive research  on optimizing the timing of content for best engagement. For DFX, Sundays, an otherwise slow time in the trading/ financial sector, was a chance for the brand to offer valuable information that is relevant to the upcoming week. It was also a time to highlight some key figures and personalities in the industry. Get more social media engagement by offering valuable content during off-peak times.Why? By offering valuable content on a slow day, DFX positioned itself as an active participant in the online conversation. It also presented itself as community-minded brand since every week the content on Sundays was focused around other brands. The proactive content and engagement approach, during an otherwise quiet time in the industry, significantly grew the brand’s organic audience. 6. Get Your Frequency Dialed In Once your brand knows when to post the content for optimal viewing, now the question is how often should a brand post its content. Guy Kawasaki is famous for his unique social media content strategy, sharing the exact content four times a day, eight hours apart. Why? Simply stated, why get 600 views when you can get 2400 by sharing it multiple times? Besides, if your audience sees your content more than once then they’re probably sitting in front of their computer for way too long. Recommended Reading: How Often to Post on Social Media [Proven Research From 10 Studies] A twist on the Guy Kawasaki method, which has helped many clients, is to share the same piece of content on Twitter four to six times a day and on Facebook two to three times a day, but each time either the image or the content (not the link) varies. How does a brand repurpose its content for multiple sharing throughout the day? Think about each blog post as a newspaper article. Every article has multiple angles that may interest a reader. Why not offer them as ‘new’ content options? Here’s a sample of the same link being shared three times in one day. This link got over 120 views in one day. When it comes to social media success, timing is everything.7. Understand Audience Mapping Organic growth on social media can be as simple as mapping your target audiences. Start by telling BuzzSumo  the category of content that best suits your brand, BuzzSumo will produce a list of the most influential people in the space, it will also share a list of content pieces that have performed extremely well. This makes your job a whole lot easier. If you have a BuzzSumo subscription, start by logging in. Then, select Influencers: Next, enter a keyword related to your industry, and click Search: Now, start following these people: For DFX, we mapped over 3,000 influencers and brands that we’d like to work with and engage in meaningful conversations (more on that later). 3,000. It took a long time to map them but the ROI was impressive. Once a respectable list is generated, sort each member of the audience, especially competition, by their social following. Next, is to follow these brands on Twitter and Facebook who share content that resonates with your brand profile. What will most likely happen is that top ones will rise to the top. Use their metrics as a benchmark. At DFX, we followed them across social channels, like Facebook Pages to watch, signed up to their newsletters, and subscribed to their RSS feeds. Watch your competition's Facebook pages, get their newsletters, and subscribe to their RSS feeds.Use a service like Nuzzel to do scour the internet of your main audience and their best performing content. They will email the most-shared content from your audience. If the list of influencers is really good, then the results will be super relevant, making organic growth a cinch. Guess what? Your brand has just mapped the right people and now it also knows what content is doing well. Once you know what’s doing well and what others are writing about, wouldn’t it make sense to add some value to the conversation by writing a content piece about the topic and mention these people?! Of course it would! Then, post the content and tag these brands. Unique, valuable content, targeted to your audience, and garnered by the leaders of your space. Organic growth was never so easy. Want to take the audience mapping to the next level? Create an interview series with these influencers as the guest contributors offering their thoughts on the industry and their vision on certain topics. Influencer marketing does work (for proof, here’s how Huawei rocked  their influencer marketing efforts). Now it’s your turn to share it and engage these people. Recommended Reading: How to Find Your Target Audience to Create the Best Content That Connects 8. Automate Content Unless your brand is Superman, there’s never enough time in the day to post content around the clock. Automation helps with making social media growth more efficient and effective. It’s not intended to be the only form of social media. Automation is half of the solution. Care to guess the other? Yup, engagement. See number 6. Once a brand understands that automation and real conversations are both  important, that real organic growth can take place. Looking for automation tools? Here’s a list of 9 social media management tools  that cross all platforms. Recommended Reading: Best Time Scheduling is the Easy Way to Get More Engagement [New Feature] 9. Engage Your Audience Social media is a behavioral shift. It’s not a broadcast platform. Engaging an audience and a community is one of the toughest aspects of social media marketing. Finding the right balance between branded content and audience generated content is not easy. For every brand it will vary.   For some it can be funny pictures, memes, videos, gif’s, or a white paper. Once a brand does have a following it means engaging, supporting and sharing their content, responding to their comments, and helping them if necessary. Social media is a behavioral shift. It's not a broadcast platform.How do you get more people talking about and interacting with your brand on social media? Stop talking about your brand! Yup, that’s right. Avoid being overtly promotional. The more narrative based content or industry related content and interesting pieces of information that aren’t brand focused will show the community how real the brand is. It may sound counterintuitive but it works. Want to engage an audience? Find a conference. No brands don’t have to attend every industry conference. Why not use the conference specific hashtag (there’s that reverse engineering thing again) as a means to engage in conversations?! Here’s a targeted conversation with a global influencer from DFX before a conference: Look at that! The brand engaged in a meaningful way and landed a meeting (face-to face) and took the conversation offline. 10. Take it Offline That’s right, one of the best ways of growing an organic social audience is to find ways to take it offline. That could be a phone call, a webinar, a meeting at a conference (via the hashtag), or webinar.   Bridge the online offline gap and a put a face to the brand. Make it happen. Tweeting and posting can be done all day, but until a real connection is made, the deal won’t be sealed. one of the best ways of growing an organic social audience is to find ways to take it offline.11. Aesthetics is Everything Visuals can make the entire difference in organic growth. It can boost brand visibility while supporting all digital efforts.   With such a cluttered social space, high quality, attractive visuals make a brand memorable. Visual content is easier for humans to process and is an easy way to generate more views, click throughs and followers. Rather than just use the same text, or the default image that comes up when putting a link to Facebook or Google Plus, why not be creative? Recommended Reading: How to Design Blog Graphics With Free Tools Consistent style of content and embedding of images that are high quality and relevant can make all the difference in organic growth and brand awareness. Social media marketing is a marathon. It will take time. The best metric of success in social media is the quality (not quantity) of your networks. Any brand that approaches social media from an organic perspective, the quality of their community will be a natural progression of the effort put in.