Abstract

MATHEMATICS AS A PREVENTIVE AND CURATIVE TOOL TO OVERCOMING ECONOMIC RECESSION IN NIGERIA

Dr. (Mrs) Oladayo, C. E.

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Abstract There are times of ups and downs in every nation. A time of economic boom and prosperity which usher in investment, trade and commerce and the populace are happy because of sufficiency. So also, there is a time of economic downturn or economic low when there is high inflation, bankruptcy, unemployment, high interest rate, low investment, and a period of hard time for the population. In the light of this, it is important to consider Mathematics as a tool to help individuals, business owners, corporate bodies and the government to take decisions which will help to sustain economic boom and prevent recession. It helps the country to take decisive steps that will help her overcome recession through using mathematical tools in economics, lower interest rates, diversify the economy, formulate accommodative monetary policies, use technological tools from mathematics to curb corruption and provide legal framework to forestall future occurrence and provide unemployment, increase foreign earnings and Gross Domestic Product among other things. Keywords: Economics, Mathematics, Recession, Curative/Preventive tool, Gross Domestic Product.

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