  We introduce an alternative approach to the polarization theory of light.
This is based on a set of quantum operators, constructed from two independent
bosons, being three of them the $su(1,1)$ Lie algebra generators, and the other
one, the Casimir operator of this algebra. By taking the expectation value of
these generators in a two-mode coherent state, their classical limit is
obtained. We use these classical quantities to define the new Stokes-like
parameters. We show that the light polarization ellipse can be written in terms
of the Stokes-like parameters. Also, we write these parameters in terms of
other two quantities, and show that they define a one-sheet (Poincar\'e
hyperboloid) of a two-sheet hyperboloid. Our study is restricted to the case of
a monochromatic plane electromagnetic wave which propagates along the $z$ axis.
