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:
“When any practice has become the fixed rule of the society in which we live, it is always wise to adhere to that rule, unless it call upon us to do something that is actually wrong. One should not offend the prejudices of the world, even if one is quite sure that they are prejudices.”
—Anthony Trollope (1815–1882)
“The practice of politics in the East may be defined by one word: dissimulation.”
—Benjamin Disraeli (1804–1881)
“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)