Have you heard about econophysics?

[JorgeM]

I'm studying physics engineering, and I would like to make a degree in Applied physics, but next to that step I would like to study Econophysics or something related to that area. I really like the area of computacional computing and economics so, I think it is going to be so good to try to propose some models using some of the math and physical intuition that one learns while we are in University.
Do you know if this is a serious part of the physics? Or is it to new area to know so much about it?
Thanks for your advise!

 

[Dewgale]

I don't really understand what that would entail. Economics is the study of financial exchanges between humans. I suppose you could try modeling economic systems using known physical systems and see what results you get -- that may be of some interest. I'm not sure I would necessarily classify that as a branch of physics per-se, because you're using the physics as an analogy. There is no underlying physical system to economics.

 

[phinds]

I don't really understand what that would entail. Economics is the study of financial exchanges between humans. I suppose you could try modeling economic systems using known physical systems and see what results you get -- that may be of some interest. I'm not sure I would necessarily classify that as a branch of physics per-se, because you're using the physics as an analogy. There is no underlying physical system to economics.

I suggest you Google Econophysics

 

[Dewgale]

I just did, and I'm hesitant to really classify it as physics. It's applying tools derived from physical systems on economic systems, which seems to me to be far less physics, and far more economics. Just because a physicist is approaching a problem using tools they got from physics, doesn't make the subject area necessarily physics. If I successfully applied statistical mechanical tools to election predictions, I wouldn't consider that some new branch of physics called "Politiphysics".

 

[robphy]

Possibly interesting links...

http://www.uh.edu/nsm/physics/research/econophysics/
http://web.physics.ucsb.edu/~complex/research/econophysics.html
http://rundle.physics.ucdavis.edu/PHYS_150-250_ECONOPHYSICS/index.html
https://www.universiteitleiden.nl/en/science/physics/econophysics--network-theory

https://www.physicsforums.com/threads/econophysics-a-good-career-path.609657/

 

[StatGuy2000]

I just did, and I'm hesitant to really classify it as physics. It's applying tools derived from physical systems on economic systems, which seems to me to be far less physics, and far more economics. Just because a physicist is approaching a problem using tools they got from physics, doesn't make the subject area necessarily physics. If I successfully applied statistical mechanical tools to election predictions, I wouldn't consider that some new branch of physics called "Politiphysics".

The physicists who apply the methods and tools of statistical mechanics will disagree with you. I believe their counter-arguments are that they are not necessarily interested in just problems with economics (or in your hypothetical example, politics) but in the broader area of the study of complex systems. The physicists who specialize in complex systems apply techniques and methods offered by statistical mechanics and nonlinear physics to gain insights on broader structures that can find applications in both physical systems (e.g. molecular interactions) and human systems (e.g. economics, politics).