London, United Kingdom

Economic Policy and Analysis

Master's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: MSc
Kind of studies: full-time studies
Master of Science (MSc)
University website: www.westminster.ac.uk
Analysis
Analysis is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle (384–322 B.C.), though analysis as a formal concept is a relatively recent development.
Policy
A policy is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both subjective and objective decision making. Policies to assist in subjective decision making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result are often hard to test objectively, e.g. work-life balance policy. In contrast policies to assist in objective decision making are usually operational in nature and can be objectively tested, e.g. password policy.
Policy
In the tragic days of Mussolini, the trains in Italy ran on time as never before and I am told in their way, their horrible way, that the Nazi concentration-camp system in Germany was a model of horrible efficiency. The really basic thing in government is policy. Bad administration, to be sure, can destroy good policy, but good administration can never save bad policy.
Adlai Stevenson, governor of Illinois, speech before the Los Angeles Town Club, Los Angeles, California, September 11, 1952.—Speeches of Adlai Stevenson, p. 36 (1952).
Analysis
Analysis and natural philosophy owe their most important discoveries to this fruitful means, which is called induction. Newton was indebted to it for his theorem of the binomial and the principle of universal gravity.
Laplace, A Philosophical Essay on Probabilities, [Truscott and Emory] (New York 1902), p. 176.
Analysis
My work in the future must be devoted entirely to pure mathematics in its abstract meaning. I shall apply all my strength to bring more light into the tremendous obscurity which one unquestionably finds in analysis. It lacks so completely all plan and system that it is peculiar that so many can have studied it. The worst of it is, it has never been treated stringently. There are very few theorems in advanced analysis which have been demonstrated in a logically tenable manner. Everywhere one finds this miserable way of concluding from the special to the general, and it is extremely peculiar that such a procedure has led to so few of the so-called paradoxes. It is really interesting to seek the cause.
Niels Henrik Abel, Letter to Professor Christoffer Hansteen (1826) Oeuvres Complètes de N. H. Abel, mathematician, Nouvelle edition (1881) ed., Peter Ludwig Mejdell Sylow & Sophus Lie, Vol. 2, pp. 263-265, as quoted by Øystein Ore, Niels Henrik Abel: Mathematician Extraordinary (1957) p. 113.
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