Models and Economists: A Methodological Note

Alex M Thomas

MPRA Paper from University Library of Munich, Germany

Abstract: Ever since the discipline of economics began, its practitioners have tried to infer laws, tendencies, causal relationships and associations about the real world. These claims are made through the construction of models – mathematical, statistical, verbal or a mix of all three. This note examines the methodological issues faced by models in the context of the Indian economy. It concludes by pointing that out that economists need to be more cautious while using models to intervene in the Indian economy.

Keywords: Indian economy; Models; Economic methodology (search for similar items in EconPapers)
JEL-codes: B41 C01 C5 (search for similar items in EconPapers)
Date: 2010-11
New Economics Papers: this item is included in nep-hpe
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