Bath, United Kingdom

Applied Economics

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.bath.ac.uk
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".
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economics
Economics is, in essence, the study of poverty.
Ronald Max Hartwell, The Long Debate on Poverty (1972), p. 3
Economics
Capitalism is the exploitation of man by man; Communism is the exact opposite.
Coluche, "Les syndicats et le délégué," Coluche : l'intégrale, vol. 3, "1989 chez Carrère".
Economics
Economists have never allowed their analysis to be influenced by psychologists of their time, but have always framed for themselves such assumptions about psychical processes as they have thought it desirable to make.
Joseph Schumpeter, History of Economic Analysis, 1945. p. 27
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