Colchester, United Kingdom

Applied Economics and Data Analysis

Master's
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
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.
Applied Economics
Applied economics is the application of economic theory and econometrics in specific settings. As one of the two sets of fields of economics (the other set being the core), it is typically characterized by the application of the core, i.e. economic theory and econometrics, to address practical issues in a range of fields including demographic economics, labour economics, business economics, industrial organization, agricultural economics, development economics, education economics, health economics, monetary economics, public economics, and economic history. The process often involves a reduction in the level of abstraction of this core theory. There are a variety of approaches including not only empirical estimation using econometrics, input-output analysis or simulations but also case studies, historical analogy and so-called common sense or the "vernacular". This range of approaches is indicative of what Roger Backhouse and Jeff Biddle argue is the ambiguous nature of the concept of applied economics. It is a concept with multiple meanings. Among broad methodological distinctions, one source places it in neither positive nor normative economics but the art of economics, glossed as "what most economists do".
Data
Data ( DAY-tə, DAT-ə, DAH-tə) is a set of values of qualitative or quantitative variables.
Data Analysis
Data analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains.
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economics
To have peace and not war, the drift toward a war economy, as facilitated by the moves and the demands of the sophisticated conservatives, must be stopped; to have peace without slump, the tactics and policies of the practical right must be overcome. The political and economic power of both must be broken. The power of these giants of main drift is both economically and politically anchored; both unions and an independent labor party are needed to struggle effective.
C. Wright Mills, The New Men of Power (1948).
Analysis
[A]t the close of the Middle Ages, when the so-called Arabic figures became established throughout Europe with the symbol 0 and the principle of local value, immediate progress was made in the art of reckoning. The problems... led up to the general solutions of equations of the third and fourth degree by the Italian mathematicians of the sixteenth century. Yet even these discoveries were made in somewhat the same manner as problems in mental arithmetic are now solved in common schools; for the present signs of plus, minus, and equality, the radical and exponential signs, and especially the systematic use of letters for denoting general quantities in algebra, had not yet become universal. The last step was definitively due to... Vieta... and the mighty advancement of analysis resulting therefrom can hardly be measured or imagined.
Thomas J. McCormack, "Joseph Louis Lagrange. Biographical Sketch" (1898) in his translation of Joseph Louis Lagrange, Lectures on Elementary Mathematics (1898); 2nd edition (1901) p. viii.
Economics
Give not Saint Peter so much, to leave Saint Paul nothing.
George Herbert, Jacula Prudentum (1651). Reported in Hoyt's New Cyclopedia Of Practical Quotations (1922), p. 216.
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