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:
“In the case of all other sciences, arts, skills, and crafts, everyone is convinced that a complex and laborious programme of learning and practice is necessary for competence. Yet when it comes to philosophy, there seems to be a currently prevailing prejudice to the effect that, although not everyone who has eyes and fingers, and is given leather and last, is at once in a position to make shoes, everyone nevertheless immediately understands how to philosophize.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“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)
“It is by the goodness of God that in our country we have those three unspeakably precious things: freedom of speech, freedom of conscience, and the prudence never to practice either of them.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)