New Visual Perspective for Economic Analysis: The Multi-Dimensional Cartesian Plane (Md Cartesian Plane)
FEA Working Paper No. 2005-1
9 Pages Posted: 6 Apr 2005 Last revised: 5 Jan 2010
Date Written: 2005
The objective of this paper is to introduce an alternative type of Cartesian plane - Multi-Dimensional Cartesian plane (MD Cartesian plane) - for both microeconomics and macroeconomics levels of analyses. Different from the traditional 2-Dimensional Cartesian plane (x,y) and 3-Dimensional Cartesian plane (x,y,z), MD Cartesian plane consists of five axes ([x1,x2,x3,x4],y), where each axis has positive and negative values.
In this paper MD Cartesian plane will be applied to macroeconomics level analysis, specifically to observe the global dimension of the Gross Domestic Product (GDP). Prior to the detailed explication and application of MD Cartesian plane, this paper explores the different type graphs that have been applied in economics so far, for comparison purposes.
MD Cartesian plane is highly flexible. It can be adapted not only to microeconomics and macroeconomics analyses, but also to research in other areas such as finance, accounting, management, business and public administration. MD Cartesian plane is essentially an alternative analytical tool for policy makers, researchers and academicians in all fields.
Keywords: Multidimension Cartesian Plane, Economic mathematics, econometrics
JEL Classification: C20, C30
Suggested Citation: Suggested Citation