Mathematical Economics versus Econometrics YouTube Lecture Handouts
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Watch Video Lecture on YouTube: Mathematical Economics Versus Econometrics
Mathematical Economics Versus Econometrics
Mathematical Economics

Not a distinct branch of economics like international trade

Approach that uses mathematical symbols

Theoretical analysis – derive set of conclusions from assumptions via reasoning

Geometrical has only 2 commodities

If –then analysis
Why Mathematical Economics?

Concise and precise

We have many theorems

State assumptions directly

Treat nvariable cases

From set of postulates (point of departure) to set of conclusions (destination)
Mathematical Economics Versus Econometrics

Econometrics – measurement of economic data – empirical observation by statistical techniques of estimation and hypothesis testing

Mathematical economics – application of mathematics to theoretical aspects of economic analysis
Manishika