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3. Economics (Arts) Modeling provides a logical, abstract template to help organize the analyst's thoughts. It helps the economist logically isolate and sort out complicated chains of cause and effect and influence between the numerous interacting elements in an economy. With a model, the economist can experiment, at least logically, producing different scenarios, attempting to evaluate the effect of alternative policy options, or weighing the logical integrity of arguments presented in prose. Examples The Aggregate Supply Aggregate Demand (AS/AD) Model, the Loanable Funds Model, an HMCMacroSim simulation model, and the IS/LM Model. All but the Loanable Funds model are inclusive models of the national economy. The Loanable Funds Model is a model of the finance markets and is used to discuss interest rate determination theory. 4. Psychology Various mathematical models are being used in psychology. Some of them are a. Stimulus identification a. Accumulator models d. Race models b. Diffusion models e. Random walk models c. Neural network/connectionist models f. Renewal models b. Error response times - Fast guess model c. Memory scanning, visual search - Serial exhaustive search (SES) model d. Sequential effects - Linear operator model 5. Sociology Mathematical sociology is frequently used in what is known as social network analysis, which strives to examine patterns of interaction among the members of a society. Examples include the interactions among citizens of a community, members of a religious group, employees of a business, or even members of a family. Social network analysis is based on the idea that patterns of interaction reveal a great deal about how an individual lives. Theories of social networks are organized and expressed in mathematical terms, such as functional equations or statistical relationships. The appropriate mathematical model to analyze a given social network depends greatly on what the researcher or analyst wishes to learn.
References
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