There are two main benefits from doing this. First, it allows economic theorists to use mathematical tools such as algebra and calculus to describe economic phenomena and draw precise inferences from their basic assumptions and definitions. Second, it allows economists to operationalize these theories and inferences so that they can be tested empirically using quantitative data and, if validated, used to produce quantitative predictions about economic matters for the benefit of businesses, investors, and policymakers.

Prior to the late 19th century, economics relied heavily on verbal, logical argument, situational explanations, and inference based on anecdotal evidence to attempt to make sense of economic phenomenon. Economists often wrestled with competing models capable of explaining the same recurring relationship called an empirical regularity, but could not definitively quantify the size of the association between central economic variables.

1.connect the Systems concepts of project management and the financial or informative criteria

2.distinguish in terms of explanation the Physical systems Vs. Abstract systems relating to management of projects

3.elaboarte on the Open loop systems vs. closed loop systems and their utilization in the effective project management

4.what is your understanding on the Deterministic systems vs. Probabilistic systems project management frameworks?

5.analyze the Object-Oriented Programming (OOP)and its relevance to the project management

6.analyse on the introductory and the first step of the Object-Oriented Programming (OOP)by explaining the order of events that apply

7.what do you understand by the term and the applications of the Classify and rank projects

8.demonstarte the implications of Feasibility/risk analysis and strategic assessment in the context of project management

9.what is basically a PERT (Program Evaluation and Review Technique) in the recent and indigenous project management theories and frameworks?

10. analyze the compositions and the necessity for the Steering committee in the management of projects terms