TITLE:
An Economic Analogy to Electrodynamics
AUTHORS:
Sanjay Dasari, Anindya Kumar Biswas
KEYWORDS:
Economics; Electrodynamics; Duality
JOURNAL NAME:
Modern Economy,
Vol.4 No.11,
November
22,
2013
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.