Mathematical economics involves the application of mathematics to the theoretical aspects of economic analysis, while econometrics deals with the study of empirical observations using statistical methods of estimation and hypothesis testing. These two are complementary - theories must be tested against empirical data for validity and statistical work needs economic theory as a guide in order to determine the appropriate direction of research.
This resource contains structured tutorials for:
Introductory mathematics for Economics
The image used above is Math by Martinlu and is licensed in terms of a Creative Commons BY-NC-ND license.
Clicked 556 times. Last clicked 05/24/2013 - 14:23.