Answer to Question #14701 in Other Economics for Jeffrey Morrison
simplicity. By convention, the applied methods refer to those beyond simple geometry, such as differential and integral calculus, difference and differential equations, matrix algebra, and mathematical programming and other computational methods.
Mathematics allows economists to form meaningful, testable propositions about many wide-ranging and complex subjects which could
not be adequately expressed informally. Further, the language of mathematics
allows economists to make clear, specific, positive claims about controversial or contentious subjects that would be impossible without mathematics. Much of
economic theory is currently presented in terms of mathematical economic models, a set of stylized and simplified mathematical relationships that clarify assumptions and
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!