Web based learning system for econophysics

Compared to traditional economics, lectures of new economics, such as, information economics and econophyics, might be difficult for students, because contents of these fields are novel and mathematical. Therefore it may be desirable to develop a learning system for the new economics by combining information technology, such as Web, to traditional way of education. The purpose of this study is to contribute to both of higher education and economics by developing a Web based learning system for econophysics. Our new learning system developed by using Jave-applet or servlet consists of several parts, such as: 1) basic mathematics; 2) basic econometric; 3) echonophysics, including concept of chaos and fractals; 4) virtual market. In our system, learners can deal with the objects interactively and visually. For example, in the part of virtual market, system provides many functions to learners: 1) a graphical representation of data of time versus exchange rate between many currencies; 2) autoregression and Fourier analyses of the data and prediction; 3) analysis of the Lyapunov index and fractal dimension; 4) confirmation of several economic laws. In our study, we demonstrate usefulness of our learning system by showing the new economic law obtained by simulation implemented in the system.

1. Introduction

As is well known, traditional economics consists of microeconomics, macro-economics, econometric, and mathematical economics[1]. Recent developments in economics are information economics based on game theory[2] and econophysics dealing with fluctuations of economic phenomena[3]. The traditional economics has been taught for long time in university and the lectures of it may be well organized. On the other hand, lectures of information economics and econo-phyics might be difficult for students, because contents of these fields are novel and mathematical. Therefore it is most desirable to develop a learning system for new economics, econophysics and information economics, by combining information technology, such as WEB, to traditional way of education.