Thread: how does science mix with economy ???? :(

Hi there

I'm a first year Molecular Biology and Biochemistry Major student in Simon Fraser University, Canada.

A thought occurred to me after hearing about people using their Physics degree to go into market and economy.....

i don't know enough about marketing or economy...since im studying science...

but i am very curious since i keep hearing about these people "using physics to measure/optimize the market/economy," "using genetic algorithms to measure/optimize the market..."

what does this mean???? im very confused because I cannot see how you can apply science to the market and economy....i thought economy was just studying models, theories and doing number crunching....how does science integrate into such different field??

apparently using physics in the economy field is really BIG, and very profitable....exactly what do these people do? is this like a consulting business? or service?...meaning how do you make profit in this industry?

I still can't see how science and economy/market mix.....

I asked other people, but they had no clue......im really burning for an answer

Originally Posted by downwiz2

Hi there

I'm a first year Molecular Biology and Biochemistry Major student in Simon Fraser University, Canada.

A thought occurred to me after hearing about people using their Physics degree to go into market and economy.....

i don't know enough about marketing or economy...since im studying science...

but i am very curious since i keep hearing about these people "using physics to measure/optimize the market/economy," "using genetic algorithms to measure/optimize the market..."

what does this mean???? im very confused because I cannot see how you can apply science to the market and economy....i thought economy was just studying models, theories and doing number crunching....how does science integrate into such different field??

apparently using physics in the economy field is really BIG, and very profitable....exactly what do these people do? is this like a consulting business? or service?...meaning how do you make profit in this industry?

I still can't see how science and economy/market mix.....

I asked other people, but they had no clue......im really burning for an answer

Well, Economy is NOT a science. Economists will resource to whatever mumbo-jumbo (or science for the case) they feel they may apply to Economy (specially economical forecast). But so far, it all makes nonsense. Once there was a study that showed that random share market decissions (made through random number generators and flipping coins) got the same success rate as "predicitons" made through a variety of economical "theories". And in some cases, flipping coins worked BETTER than some economical theories...

So far, economists are like weather men who tell you today that yesterday had to rain although it was sunny... and it's you to blame. 8)