Conference Proceeding

Mathematics in Space and Applied Sciences (ICMSAS-2023)
ICMSAS-2023

Subject Area: Mathematics
Pages: 331
Published On: 03-Mar-2023
Online Since: 04-Mar-2023

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Author(s): Rakesh Sharma

Email(s): jagjitsinghpatial@gmail.com

Address: Rakesh Sharma Assistant Professor of Economics, Govt. Degree College, Khad, District Una, H.P. – 177207 *Corresponding Author

Published In:   Conference Proceeding, Mathematics in Space and Applied Sciences (ICMSAS-2023)

Year of Publication:  March, 2023

Online since:  March 04, 2023

DOI: Not Available

ABSTRACT:
Application of Mathematics into Economic Theory is a formal description of certain relationships of economic variables; some of these relationships are derived from empirical observations while other ones are deduced from theoretical axioms based on a Rational Economic Agent. Mathematization of Economic Theory broadly started in the second quarter of the 20th Century due to shift of emphasis from partial to general equilibrium analysis, economic dynamism, growth theories and technical progress. In present scenario, it is being widely accepted as a tool in improving Economic Theory and corrective measures for the formulation of Economic Policy; Fiscal and Monetary Policies.


Cite this article:
Rakesh Sharma. Application of Mathematics in Economic Theory. Proceedings of 2nd International Conference on Mathematics in Space and Applied Sciences. 2023;1:63-66.


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Author/Editor Information

Dr. Sanjay Kango

Department of Mathematics, Neta Ji Subhash Chander Bose Memorial, Government Post Graduate College, Hamirpur Himachal Pradesh-177 005, INDIA