Question #14701

Mathematical economics is not a branch of economics but provides the wheels on which economic analysis can ride. Discuss

Expert's answer

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

implications.

## Comments

## Leave a comment