Models, theories and method

Donald A. R. George

Chapter 1 in Mathematical Modelling for Economists, 1988, pp 1-8 from Palgrave Macmillan

Abstract: Abstract Consider an Economics student presented with the following mathematical relationships: (1.1) x = α z + β $$x = \alpha z + \beta $$ (1.2) q = q ¯ $$q = \bar q$$ (1.3) z = x + y $$z = x + y$$ (1.4) w = x + q $$w = x + q$$ (1.5) w = z $$w = z$$ and suppose he or she is told that equations (1.1)–(1.5) imply: (1.6) d z d q ¯ = 1 1 − α ( α ≠ 1 ) $$\frac{{{{\text{d}}_z}}}{{{{\text{d}}_{\bar q}}}} = \frac{1}{{1 - \alpha }}(\alpha \ne 1)$$

Keywords: Unit Root; Mathematical Relationship; Moral Science; Robustness Property; Linear Difference Equation (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-19238-0_1

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DOI: 10.1007/978-1-349-19238-0_1

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