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Friday, April 21, 2017

Economics to physics phrasebook


Cameron Murray tweeted out his old post about economics terminology. Someone commented adding a sociology-economics dictionary. I thought I'd get in on the game with an "economics to physics" dictionary (the means we're using the economics definition):

EconomicsPhysicscommoditymattercomparative advantagecoupling state spaces changes equilibriumdiscount factorsmooth cutoff regulatorDSGEarbitrary stochastic difference equationwith constraintsdemandunobservable field that interacts with supplyendogenousnot an external fieldequilibriumsolution to set of equationsgeneral equilibriumsolution to all of the equationspartial equilibriumsolution to a few of the equationsestimatefit parameters to dataEuler equationequation of motion for constrained Lagrangianexogenousexternal fieldexpectationstoy modelof the futureEttime translation operatorEMHBrownian motion as an effective theory of prices(scale unclear)inflationrate of change of the price levelprice levelarbitrary linear combination of prices(varies)economicstheoretical economicsgrowth economicstheoretical economicsn1,t1quartermacroeconomicstheoretical economicsn1,t1quartermicroeconomicstheoretical economicsn1,t1quarternatural rate of interestunobservable fieldmodeltoy modeltoy modelhandwavingtheoryphilosophysometimes inexplicably has unitsgrowthexponential growthmoneytoy modelof moneyπinflation, not3.14159...total factor productivityphlogistonrational expectationscausality violating toy modelof the futurerecessiontoy modelof a recessionsupplyobservable fieldutilityunobservable field

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Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.

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