Issue № 57. August 2016

Economic Science and Economic Mathematical Modeling

Elena N. Veduta — Ph.D., Professor, School of Public Administration, Lomonosov Moscow State University; Professor, Plekhanov Russian University of Economics, Moscow, Russian Federation.
E-mail: Veduta@spa.msu.ru

Tatiana N. Dzhakubova — Ph.D., Associate Professor, School of Public Administration, Lomonosov Moscow State University, Moscow, Russian Federation.
E-mail: Dzhakubova@spa.msu.ru

A global crisis requires us to rethink economic knowledge and science, as well as the mathematical models based on economic theories, forcing the return to the basic foundations of economic science. In this crisis conditions, Marx’s reproduction, which studies the objective economic laws, and mathematical models based on it, become more and more relevant. The article demonstrates that the models historically created to further our understanding of the based economic mechanisms, continued developing along two main directions. The first approach required the more and more complex mathematical apparatus, as well as an increasing number of exogenicaly set variables to analyze the economic systems, and predict their development by extrapolation. This approach has been developing since the 1950, but recently, according to many researchers, it became stagnant, and is facing an ongoing crisis, since its models and theories can not be used to develop anti-crisis measures. The second approach develops the models to reflect more and more precisely the objective economic laws, creating a cybersystem which, in conjunction with modern developments in information technologies, can be used to improve economic management efficiency. In essence, using the cybersystem will allow the economy to shift to a completely new management technology, which would allow it to overcome the ongoing global crisis. The authors formulate basic principles of a dynamic model of inter-branch and inter-sectoral balance (MISB), which can be the basis for the creation of economic cybersystem.

Keywords

Global crisis, theory of reproduction, Capital of Karl Marx, the objective economic laws, strategic planning, economic cybersystem, economic and mathematical methods and models, equilibrium model, the model of economic dynamics (growth), IT.