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I can see glimmers of a Leontieff-type model behind what Jerome is saying, but the econometrics of that are a bitch, and the end result is in terms of linear algebra at a level which is not all that high but in most US universities is considered upper-undergraduate for science students and graduate for social science students.

We have met the enemy, and he is us — Pogo
by Migeru (migeru at eurotrib dot com) on Sun Feb 3rd, 2008 at 11:38:34 AM EST
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So while the physics students are learning tensor analysis so they can understand GR, the economic students are...
by asdf on Sun Feb 3rd, 2008 at 11:42:17 AM EST
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...not.

There is no GR to understand in economics, either. Keynes' theory is very rish but I don't think it has been comprehensively mathematised, and it's not like Keynes thought it was necessary either.

We have met the enemy, and he is us — Pogo

by Migeru (migeru at eurotrib dot com) on Sun Feb 3rd, 2008 at 11:46:03 AM EST
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The economics students are generally learning shit until they at least get into the intermediate-level coursework.  But even at the graduate level, they're just reading textbooks with a bunch of mathematical models.  If you want to learn real economics, then, in my view, you've got to read Smith, Keynes, Friedman (the economist, not the political commentator), etc.  Most of the economists these days are just goofing around with interpretations of the work of these people.

Paul Krugman is a notable exception among the younger economists, as someone who, in my opinion, is razor-sharp on the intuition and on the strengths and weaknesses of the mathematics.  Same goes for Stiglitz and DeLong.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin

by Drew J Jones (myfriends@thisispancakes.com) on Sun Feb 3rd, 2008 at 11:48:22 AM EST
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