Colchester, United Kingdom

Financial Technology (Economics)

Master's
Table of contents

Financial Technology (Economics) at University of Essex

Language: EnglishStudies in English
Subject area: economy and administration
Qualification: MSc
Kind of studies: full-time studies, part-time studies
Master of Science (MSc)
University website: www.essex.ac.uk

Definitions and quotes

Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Financial Technology
Financial technology (FinTech or fintech) is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. FinTech is a new industry that uses technology to improve activities in finance. The use of smartphones for mobile banking, investing services and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public. Financial technology companies consist of both startups and established financial and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.
Technology
Technology ("science of craft", from Greek τέχνη, techne, "art, skill, cunning of hand"; and -λογία, -logia) is first robustly defined by Jacob Bigelow in 1829 as: "...principles, processes, and nomenclatures of the more conspicuous arts, particularly those which involve applications of science, and which may be considered useful, by promoting the benefit of society, together with the emolument [compensation ] of those who pursue them" .
Economics
The field of economics is not exempt from the consequences of chaos and complexity. Marketplaces are indeterminate; value is subjective; and outcomes are subject to interpretation. Economic forecasting is just as nebulous, being based on the probability of statistical information that may or may not be accurate.
L.K. Samuels, In Defense of Chaos: The Chaology of Politics, Economics and Human Action, Cobden Press (2013) p. 16.
Technology
It is the constant attempt in this country [Canada] to make fundamental science responsive to the marketplace. Because technology needs science, it is tempting to require that scientific projects be justified in terms of the worth of the technology they can be expected to generate. The effect of applying this criterion is, however, to restrict science to developed fields where the links to technology are most evident. By continually looking for a short-term payoff we disqualify the sort of science that … attempts to answer fundamental questions, and, having answered them, suggests fundamentally new approaches in the realm of applications.
John C. Polanyi, A Scientist and the World He Lives In, Speech to the Empire Club of Canada (27 Nov 1986) in C. Frank Turner and Tim Dickson (eds.), The Empire Club of Canada Speeches 1986-1987 (1987), 149-161.
Technology
The path towards sustainable energy sources will be long and sometimes difficult. But America cannot resist this transition, we must lead it. We cannot cede to other nations the technology that will power new jobs and new industries, we must claim its promise. That’s how we will maintain our economic vitality and our national treasure—our forests and waterways, our crop lands and snow-capped peaks. That is how we will preserve our planet, commanded to our care by God. That’s what will lend meaning to the creed our fathers once declared.
Barack Obama In Second Inaugural Address (21 Jan 2013) at the United States Capitol.
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