Modern Economy
Volume 4, Issue 11 (November 2013)
ISSN Print: 2152-7245 ISSN Online: 2152-7261
Google-based Impact Factor: 0.74 Citations h5-index & Ranking
An Economic Analogy to Electrodynamics ()
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ABSTRACT
In this article, we would like to find the laws of electrodynamics in simple economic systems. We identify the chief economic variables and parameters, scalar and vector. We find laws of economics interms of these variables and parameters. The laws are similar in form to the laws of symmetric electrodynamics. Moreover, we obtain Phillp’s curve, recession, Black-Scholes formula, Supply-Demand line and Cobb-Douglas production function as sample applications.
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