Traditionally it is thought that economics and physics are very
different irreconcilable sciences. Physicists sometimes claim that
economists are aware only of addition and subtraction, while only very
rarely they attempt to use multiplication or even division. Economists
on the other hand think that physicists are busy dividing molecules
into atoms, create atomic weapons and lasers and are able to fix AC
sockets, while having absolutely no understanding in other,
nontechnical, fields. Evidently this oversimplified thinking is
incorrect - economics and physics have things in many common. And with
the time more common things are discovered.
What is common between physics, a precise science about inanimate
nature, and economics, a social science considering human interactions
in certain scenarios? While it might sound a bit strange at first, but
some of the processes in both sciences are very similar! Thus
physicists can successfully apply their knowledge and experience to
understand, describe, model and forecast various processes in
economics. Econophysics is a cognitive science, which attempts to see
the reasons behind various economic processes. Physicists are always
obsessed with simple equation - why?
These are free translations
of the texts published in "Science and life" (lt. "Mokslas ir
gyvenimas") journal by prof. Kęstutis Staliūnas [1, 2]. These are few rare texts about
econophysics published in Lithuanian language.
Another interesting text is an electronic course material [3] written for the students of Physics Faculty of
Vilnius University (the econophysics course was taught there in
2002-2003). This contains broader review of introductory topics to
econophysics.
References
- K. Staliunas. Ekonofizika. Mokslas ir gyvenimas 11: S15 (2003).
- K. Staliunas. Ekonofizika. Mokslas ir gyvenimas 3: ??? (2004).
- K. Staliunas. Ekonofizika. Published as elektroninis paskaitų konspektas, 2002.