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Title: Describe in words the anatomy of an economic model. Post by: Mairoon on Oct 17, 2017 Describe in words the anatomy of an economic model.
Title: Re: Describe in words the anatomy of an economic model. Post by: Tyforumca on Oct 17, 2017 An economic model is comprised of a set of assumptions that lead to a set of implications. In an effective economic model, if one or more of the assumptions are changed, so too is the set of implications. In other words, any assumption that does not influence the implications is superfluous and can be dropped from the model. In an effective economic model, the implications are clearly stated and testable using real-world data.
Title: Re: Describe in words the anatomy of an economic model. Post by: Mairoon on Aug 14, 2018 Thanks. This is just start. ;)
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