What's the application of topology in Econometrics?
Hi, I'm an undergraduate student studying mathematics. My topology course teacher has given me an assignment on the application of topology on econometrics. He said he's not gonna tell me anything about econometrics (I don't have that in my syllabus), I'll have to do it on my own.
So can u tell me why exactly topology is read in the study of econometrics???
Re: What's the application of topology in Econometrics?
Economists rarely use topology directly, but it is implicit in many applications.Economists are rarely conscious they are studying topology, rather they have tools that are usually detached from the mathematical origins. You can solve stochastic differential equations without really thinking about the underlying limit theory, for example, and never care your entire life about it either, as long as it works.
We use topology in a number of other ways, but I suspect if you asked most economists they would have no clue they were using it and no clue that a field called topology existed.