Huwebes, Hulyo 25, 2013

TOOLS OF ECONOMIC ANALYSIS

       


       Well, if science is involve in economics, of course mathematics is involve too. It is important because economic decisions have to be based on precise measures in order to get correct results. When we hear the word "mathematics"  our head instantly aches but in economics it simply makes it easier to understand the underlying logical relationships among variables. Okay, dear mathematics, you're now forgiven for this time but next time no. hahahaha Before, I don't exactly know the use of graphs in economics but now I know why it's use and it's importance because it presents economic information clearly and illustrate the relationship among economic variables. Graphs are widely used in economics to explain data. The characteristics of data and theories are better understood if they are illustrated by means of graphs. While graphs are used, statistical analysis are used too you know. It is used to test hypothesis regarding the relationship among economic variables. 

Walang komento:

Mag-post ng isang Komento