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Quantitative policy process depends on a portfolio of tools that have been drawn from a variety of disciplines besides discretionary political decision. Over the past two decades a new way of thinking has come to prominence; principally in natural sciences. Although, all the usual physical laws are obeyed, many systems are now viewed as ‘complex' and as such, cannot be very well understood using standard approaches to theorizing and modeling. As we have seen in the last sections, policy makers' self interests and in homogeneity i.e., heterogeneity and dynamised set up with time element causing time inconsistency problem pull the policy process away from the standard idealized would theories, it makes the case best to look for the tools of complex system to approach the problem at hand.
Some economists view complexity science as just another ‘fad' that will pass. But we will see by the end of this block that the underlying handicap of our standard tools and various promises the tools of the science of complexity, offer a more radical challenge that economics has faced as a discipline science since importation of the tolls of calculus and field theory from physics in the late 19th century.
Your organisation has tasked your to reduce the rate of a particular type of incident or particular type of high risk hazards which is commonly occurring. Your task requires you to
How burden of public debt is transferred to future generations through reduced capital formation?
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need assignment on supply and money
Q. Define Heterogeneity? We know that breaking of the assumptions of homogeneity of agents, in welfare economics, makes it difficult to define social welfare function. Breakin
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The monetarist and fiscal controversy is still on. The recent history of the U.S. looks like a success story of the monetarists; but besides pure luck, it involved strong element o
with the aid of labelled production possibilty frontier explain the concept of opportunity cost
Q. Political Trans-national Activity? The dynamics resulting from the institutional interdependencies are of major importance for an understanding of the process of political t
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