Models and Economists: A Methodological Note
AbstractEver 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 InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 26837.
Date of creation: Nov 2010
Date of revision:
Indian economy; Models; Economic methodology;
Find related papers by JEL classification:
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
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