In economics, a model is a theoretical construct that represents economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified framework designed to illustrate complex processes, often but not always using mathematical techniques. Frequently, economic models posit structural parameters. Structural parameters are underlying parameters in a model or class of models.
- 3,029,968 all-time readers
- 11 Amazing Examples of Disruptive Technology
- Great British Pound Notes & People Who've Appeared On Them ...
- 5 Business Lessons From the "Corporate Scapegoat" Who Lost Five-Billion Euros
- 17 Great Examples of Effective Leadership and Strategy
- What Is Social Marketing? And How Does It Work?
- Grant Cardone Shares His Principles for Life & Success (Exclusive Q&A Interview)