77 SHREYA CHATTERJEE INTERRELATION WITH ECONOMICS

NAME: SHREYA CHATTERJEE
ROLL NO: 17

1. kALNA COLLEGE AFFILIATED TO THE UNIVERSITY OF BURDWAN INTERNAL ASSESSMENT SEMESTER – 1 COURSE – V : UNDERSTNDING DISCIPLINE AND SUBJECT ASSESSMENT TOPIC : INTERRELATION AND INTERDEPENDENE AMONG VARIOUS SCHOOL SUBJECTS WITH ECONOMICS NAME : SHREYA CHATTERJEE COLLEGE ROLL : 17 SESSION : 2024 – 2026 .

2. Introduction Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. Some of it’s branches are – Microeconomics, Macroeconomics, International Economics and Development economics.

3. Economics and Mathematics Interrelations Model Economic Systems - Economists use mathematical models and mathematical optimization techniques such as linear programming and calculus. Analyze Data- Economists use statistical methods such as regression analysis, hypothesis testing to analyse economic data. Interdependence Mathematical tools in economics – Economists use calculus, linear algebra to solve system of equations. Economic applications of mathematical concepts – Mathematical optimization techniques, Game Theory is used in economics.

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5. Economics with Statistics Interrelation Analyze Economic Data - Economists use mean, median, mode and hypothesis testing, confidence intervals. Test Economic Theories – Economists use regression analysis to test economic theories. Interdependence Statistical Analysis in Economics – Statistical models such as regression analysis and time series analysis are used to estimate economic relationship. Economic application of statistical concepts – Probability theory, statistical inference is used in economics.

6. Economics with Geography Interrelations Geographical Factors influencing economic activities – The location and climate of a country can influence availability of natural resources. Economic activities shaping geographical features – Economic activities such as mining and manufacturing can shape the geographical features. Interdependence Emerging Trends and Opportunities – The growing recognition of the importance of sustainable development is creating new opportunities for interdisciplinary collaboration between economists and geography.

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8. Economics with History - Interrelations Historical context of economic events – Historical context influences the development of economic systems. Economic factors shaping historical events – Economic inequality has contributed to social unrest, revolutions and other historical events. Interdependence Emerging trends and opportunities – The application of digital tools and methods to historical research is creating new opportunities for analyzing economic trends and patterns.

9. Economics with Commerce Interrelations Commerce as an application of economics – Commerce applies economic principles such as opportunity cost, supply and demand. Economic concepts in commerce – Commerce uses the concept of supply, demand and comparative advantage. Interdependence Financial Management – Commerce applies economic principles such as time value of money and risk management. Comparative Advantage – Commerce uses concepts of comparative advantages.

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11. Economics with English Interrelations International trade and finance – English is widely used in international trade and finance. Economic education and training – English is often the language of instruction in economic courses. Interdependence Economic theories and models – English is used to explain and analyse economic theories and models. Economic data and statistics – English is used to present and interpret economic data, GDP growth, inflation etc.

12. Conclusion - The interrelation and interdependence between economics and various subjects are crucial for understanding complex economic phenomena and developing effective solutions to economic problems.

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