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Areas of Study

Economic Theory and Economic Statistics

This area comprises two main branches: modeling of economies using mathematics and logic, and economic analysis using statistics. The area branches out into four units:

  1. The economic theory unit involves modern economics and political economy. Modern economics consists of microeconomics, with its roots in Marshall, and macroeconomics rooted in Keynes. Both micro- and macroeconomics use mathematics as an analytical tool. Political economy has its roots in Karl Marx, Adam Smith and David Ricardo. It covers mainly modern Marxism, Post- Keynesianism, and Modern Monopolistic Capitalism.
  2. The social economic system unit consists of two major fields. One is economic system analysis using modern economic theory to characterize the economic system and to pursue new economic mechanisms. The other field is the epistemological study of economics, touching on fields of philosophy and ethics.
  3. The economic statistics unit consists of the three fields: statistics, econometrics, and information processing. The field of statistics involves both traditional and financial statistics. The field of econometrics is concerned with empirical analyses of economic agents. In the field of information processing extensive use is made of statistical software and computer programming.
  4. The mathematics unit offers a wide range of mathematics courses necessary for economic analysis. The courses are offered at introductory to advanced levels. Some courses at the advanced level explore pure mathematics such as that offered in mathematics departments.

As seen above this area offers a large number of courses that meet demands for mathematical and statistical analysis in economics. Instruction and research supervision aim to provide extensive knowledge of mathematics and statistics while encouraging creativity in their application.