Economics is a science that studies human behavior. It is mainly concerned with studying the whole economy using different models to describe real life economic experiences and situations. This of course has been the basis of every economic theory today. However, this has eventually led economists to believe that there are two ways of dealing with economic problems which are the mathematical approach and the non mathematical approach. Though over the years, many economists no more believe in economics without math or with little math and thereby derided the non mathematical approach to economics as a literary approach. Anyway this post is not raise an argument about which approach is better but to highlight the differences between the mathematical and non mathematical economics otherwise known as literal economics . What Is Mathematical Economics? Mathematical economics is neither a distinct branch nor a subfield in Economics. Rather, it is an approach to economic analysis. Hence, it c
Economics Is Simple And Fun