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Illustrate the roles of mathematics in modern economics?
Roles of Mathematics in Modern Economics:
Mathematics has become a significant tool into modern economics. Mostly every field into modern economics uses statistics and mathematics. The mathematical approach to economic analysis is utilized while economists make utilization of mathematical symbols into the statement of a problem and also draw upon identified mathematical theorems to aid in reasoning. This is not hard to understand why the mathematical approach has turn into a dominant approach because finding the boundary of a theory, improving an analytical framework of a theory, founded reference systems, and giving analytical tools all require mathematics. When we apply a theoretical outcome to real world without understanding the boundary of a theory, we may obtain a very bad result and hurt an economy seriously.
Implementation of economic policy: On the ability of civil servants and Government to learn, Government must possess the following qualities to ensure implementation of econom
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ref article :http://www.economist.com/news/finance-and-economics/21587795-if-congress-fails-lift-limit-americas-debts-consequences-are a.assume that the debt ceiling crisis
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Ask question #Minintroduction to recent development in demand theory
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
Advocacy of Globalisation: In support of the movement for globalisation, the following arguments are put forth: i) Globalisation promotes foreign direct investment and, thu
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