Practice
Main articles: Economic methodology, Mathematical economics, and Schools of economicsContemporary economics uses mathematics. Economists draw on the tools of calculus, linear algebra, statistics, game theory, and computer science. Professional economists are expected to be familiar with these tools, while a minority specialize in econometrics and mathematical methods.
Read more about this topic: Modern Economics
Famous quotes containing the word practice:
“Like the British Constitution, she owes her success in practice to her inconsistencies in principle.”
—Thomas Hardy (1840–1928)
“The mayor and Montaigne have always been two, with a very clear separation. For all of being a lawyer or a financier, we must not ignore the knavery there is in such callings. An honest man is not accountable for the vice or stupidity of his trade, and should not therefore refuse to practice it.”
—Michel de Montaigne (1533–1592)
“Predatory capitalism created a complex industrial system and an advanced technology; it permitted a considerable extension of democratic practice and fostered certain liberal values, but within limits that are now being pressed and must be overcome. It is not a fit system for the mid- twentieth century.”
—Noam Chomsky (b. 1928)