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It is true that modern Economics is not just too idealized but also too mathematical. Economics has math envy toward Physics so they mimic the supposed "rigor"
by dmfdmf 15y ago
It is true that modern Economics is not just too idealized but also too mathematical. Economics has math envy toward Physics so they mimic the supposed "rigor" of mathematical analysis to give it a veneer of precision and respectability. That said, there are crucial principles you probably should know (Supply and Demand, Division of Labor, Comparative Advantage, etc). The college classes may be better than your HS AP course as it depends on the teacher more than anything. The intro classes tend to avoid the more advanced and abstract and do try to tie it to real life examples, especially Micro-Economics.
- ohashi 15y agoI don't know if I would call it envy. It's an attempt to try and model human behavior - as (ir)rational as it may be. Using math to try and get a better understanding seems like a pretty good idea. No model is perfect, but they constantly try to adjust.
- dmfdmf 15y agoThis is the exact rationale and hope in the field but it a false hope. I'm not opposed to using math but as your comment implies, humans are not atoms or particles like in Physics and the subject requires different methods than the physical sciences. Economics is more closely allied with the methods of Psychology or Ethics, identifying and validating basic principles such as the examples I mentioned which require no math to understand. The proof of these principles are validated via logic and observation of human action not mathematical proofs. This methodology was dismissed as non-scientific early last century and, in the context at the time with very successful mathematical Physics, the mathematical economists took over the profession to counter the charges of not really being a science since there was no math equations.