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:
“As an example of just how useless these philosophers are for any practice in life there is Socrates himself, the one and only wise man, according to the Delphic Oracle. Whenever he tried to do anything in public he had to break off amid general laughter. While he was philosophizing about clouds and ideas, measuring a flea’s foot and marveling at a midge’s humming, he learned nothing about the affairs of ordinary life.”
—Desiderius Erasmus (c. 1466–1536)
“Like the British Constitution, she owes her success in practice to her inconsistencies in principle.”
—Thomas Hardy (1840–1928)
“Fine art, that exists for itself alone, is art in a final state of impotence. If nobody, including the artist, acknowledges art as a means of knowing the world, then art is relegated to a kind of rumpus room of the mind and the irresponsibility of the artist and the irrelevance of art to actual living becomes part and parcel of the practice of art.”
—Angela Carter (1940–1992)