Article ID Journal Published Year Pages File Type
7345353 Economía Informa 2014 14 Pages PDF
Abstract
This paper presents the main mathematical languages used in the economy since 1838, with the work of Cournot, to this day. The exhibition is divided into three phases: the first, covering 1838 to 1947, stage was characterized by the increasing use of linear algebra and calculus; the second comprises of 1948-1960, with the predominance of game theory, linear models and the theory of convex sets (allowing establish on the 50s the existence, uniqueness and stability of general equilibrium) and the third, covering 1960 to the present, emphasizing the development of dynamic analysis and the use of stochastic processes (used by the new Classical economics and new Keynesian economics). The article concludes that economics is a social science, but the job is easier when the language is mathematic.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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