Economics Dynamics Problems 21

Economics Dynamics Problems 21 - Introduction 5 pains to...

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Unformatted text preview: Introduction 5 pains to spell out the modelling specifications and procedures. This should enable a student to follow how the mathematics and economics interrelate. Such knowledge can be imparted only by demonstration. I have always been disheartened by the idea that you can teach the mathematics and statistics in quantitative courses, and you can teach the economics in economics courses, and by some unspecified osmosis the two areas are supposed to fuse together in the minds of the student. For some, this is true. But I suspect that for the bulk of students this is simply not true. Students require knowledge and experience in how to relate the mathematics and the economics. As I said earlier, this is more of an art than a science. But more importantly, it shows how a problem excites the economist, how to then specify the problem in a formal (usually mathematical) way, and how to solve it. At each stage ingenuity is required. Economics at the moment is very much in the mould of problem solving.required....
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This note was uploaded on 12/14/2011 for the course ECO 3023 taught by Professor Dr.gwartney during the Fall '11 term at FSU.

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