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Models and Economists: A Methodological Note

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  • Thomas, Alex M
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    Abstract

    Ever since the discipline of economics began, its practitioners have tried to infer laws, tendencies, causal relationships and associations about the real world. These claims are made through the construction of models – mathematical, statistical, verbal or a mix of all three. This note examines the methodological issues faced by models in the context of the Indian economy. It concludes by pointing that out that economists need to be more cautious while using models to intervene in the Indian economy.

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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26837.

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    Date of creation: Nov 2010
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    Handle: RePEc:pra:mprapa:26837

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    Keywords: Indian economy; Models; Economic methodology;

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