Mod note: this thread was originally part of https://www.physicsforums.com/showthread.php?t=601879 but has been split off due being off-topic. I would prefer the word understand, rather then model. Well a models serve both to illustrative and verify our understanding, from an instrumentalist perspective -- that is a perspective which only asks is a model useful -- many applications of economics give bad results. Well you may say that it does well in certain situations (like perhaps micro-economics) these aren't the areas where economics makes the largest impression on people. Sure, you can apply math to economics. Alternatively you can ask why. Economics was once much more of a philosophical field then it is now. The math is great for illustrating concepts and giving precision but it isn't the whole store.