There are so many methods that an economist can choose from
to use during an economic analysis. Some of these methods or mathematical/statistical
tools include the following: algebra, graphs, calculus, averages, percentages,
correlation coefficient, diagrams or charts, standard deviation, narrative
statements, positive statements, matrices and vectors, etc.
Of all the approaches mentioned above, it is only the
narrative statements and the positive statements that are non-mathematical
methods that an economist uses in economic analysis.
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