NTCM Geeta Pujari
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Posted 4 year ago

How economics and maths are connected to each other?

 

1 Answer(s)
Deepak Bajpai
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Posted 4 year ago Deepak Bajpai Auditor, CAG

Mathematics as a subject is usually seen in silos. However, this subject has a very interdisciplinary scope given its importance on a day to day basis. Both economics and maths are constantly engaging and negotiating with numbers. For instance, to calculate the GDP for India we use the formula GDP=Private consumption+ gross investment + government investment + government spending + (exports - imports). To calculate this correctly, students must have a basic understanding of the BODMAS rule.