Critics also charged that the Directive was a sign that " Anglo-Saxon " style economics was running rampant over the EU, and they warned that the directive led inevitably to " social dumping " -- companies and jobs relocating to the low-cost and less regulated economies of eastern Europe.

One of the greatest obstacles to the achievement of this goal is the lack of trained men and women with the skill to teach the young and assist in the operation of development projects -- men and women with the capacity to cope with the demands of swiftly evolving economics, and with the dedication to put that capacity to work in the villages, the mountains, the towns and the factories of dozens of struggling nations.

In addition to mathematics and statistics, the arithmetic mean is used frequently in fields such as economics, sociology, and history, though it is used in almost every academic field to some extent.

While Swift ’ s proposal is obviously not a serious economic proposal, George Wittkowsky, author of " Swift ’ s Modest Proposal: The Biography of an Early Georgian Pamphlet ", argues that to understand the piece fully, it is important to understand the economics of Swift ’ s time.

The Austrian School of economics is a school of economic thought positing that the only appropriate means to understand economic events is by logically studying the intentions of individual economic decision-makers, based on certain fundamental truths.

Freedom of thought is the only guarantee of the feasibility of a scientific democratic approach to politics, economics and culture.

In economics and finance, arbitrage () is the practice of taking advantage of a price difference between two or more markets: striking a combination of matching deals that capitalize upon the imbalance, the profit being the difference between the market prices.

In general, the difference between a statistics program and a biostatistics program is twofold: ( i ) statistics departments will often host theoretical / methodological research which are less common in biostatistics programs and ( ii ) statistics departments have lines of research that may include biomedical applications but also other areas such as industry ( quality control ), business and economics and biological areas other than medicine.

His most famous book in this area is The Skeptical Environmentalist, whose English translation was published as a work in environmental economics by Cambridge University Press in 2001.

Calculus has widespread applications in science, economics, and engineering and can solve many problems for which algebra alone is insufficient.

* Capital ( economics ), a factor of production that is not wanted for itself but for its ability to help in producing other goods

" Justice Holmes noted that study of maxims might be sufficient for " the man of the present ," but " the man of the future is the man of statistics and the master of economics.

From an economics viewpoint, there is a clear trade-off between cost per copy and cost of the printer.

Latour suggests that about 90 % of contemporary social criticism in academia displays one of two approaches which he terms “ the fact position and the fairy position .” ( p. 237 ) The fact position is anti-fetishist, arguing that “ objects of belief ” ( e. g., religion, arts ) are merely concepts onto which power is projected ; the “ fairy position ” argues that individuals are dominated, often covertly and without their awareness, by external forces ( e. g., economics, gender ).

In economics, currency is a generally accepted medium of exchange.

In economics, a local currency is a currency not backed by a national government, and intended to trade only in a small area.

The term is parallel to-ology in English, being used to construct the names of academic fields: the Chinese names of fields such as physics, chemistry, biology, political science, economics, and sociology all end in xué.

Chemical engineering is the branch of engineering that deals with physical science ( e. g., chemistry and physics ), and life sciences ( e. g., biology, microbiology and biochemistry ) with mathematics and economics, to the process of converting raw materials or chemicals into more useful or valuable forms.

It is Liberal in the sense of economics.

It is a process whereby the metropole claims sovereignty over the colony, and the social structure, government, and economics of the colony are changed by colonizers from the metropole.

In 1963 Friedman and Schwartz proposed a positive feedback loop as a mechanism for catastrophic failures in economics: “ It happens that a liquidity crisis in a unit fractional reserve banking system is precisely the kind of event that trigger-and often has triggered-a chain reaction.

Other broad distinctions include those between positive economics ( describing " what is ") and normative economics ( advocating " what ought to be "); between economic theory and applied economics ; between rational and behavioral economics ; and between mainstream economics ( more " orthodox " and dealing with the " rationality-individualism-equilibrium nexus ") and heterodox economics ( more " radical " and dealing with the " institutions-history-social structure nexus ").

The economics of the public sector is one example, since where markets fail, some kind of regulatory or government programme is the remedy.

Until that time, economics was taught under the Historical and Moral Sciences Triposes which failed to provide Marshall the kind of energetic and specialized students he desired.

From a public economics perspective, subsidies of any kind work to create a socially and politically acceptable equilibrium that is not necessarily Pareto Efficient.

The faculty for economics and business was founded in 1817 as ' Staatswissenschaftliche Fakultät ' and was the first of its kind in Germany.

Friedrich Hayek felt that luck was too much of a variable in economics, such that one can not devise a system with any kind of fairness when many market outcomes are unintended.

Say's law, or the law of market, is an economic principle of classical economics named after the French businessman and economist Jean-Baptiste Say ( 1767 – 1832 ), who stated that " products are paid for with products " and " a glut can take place only when there are too many means of production applied to one kind of product and not enough to another ".

The Austro-American school of economics was also based on a philosophical science of the same kind.

A notable scientific example of what can happen when this kind of fallacy is identified and resolved is the development in economics of the Coase theorem.

In finance and economics, divestment or divestiture is the reduction of some kind of asset for either financial or ethical objectives or sale of an existing business by a firm.

An opponent of assisted suicide, Vlazny supported the unsuccessful repeal of the Oregon Death with Dignity Act, saying, " Many have expressed a dread about what will happen when the power over life and death may be put into the hands of a society that is driven by economics, expedience and efficiency, a society that flees from suffering, weakness or limitations of any kind.

Bowley's Mathematical Groundwork of Economics was a notable attempt to provide the practising economist ( rather than the beginner ) with the main ideas and techniques of mathematical economics ; it was the first book in English of its kind.

In the philosophy of economics this means asking questions such as: what kind of a " truth claim " is made by economic theories-for example, are we claiming that the theories relate to reality or perceptions?

Lyrically, the song is about class economics and race and thus proved controversial: some people thought it was advocating a kind of race war.

In the past three decades, Universidad del Pacifico has been ranked as one of the most esteemed universities in fields of economics, law, finance, accounting, and business administration in Peru and among the leading institutions of its kind in the Latin American region.

Austrian economics goes a step further by attributing no special objective meaning to price levels at all, which it considers a mere " statistical outcome " of comparisons between each party's ratios between the value of money ( taken to be just another kind of a good ) to values of goods being sold or purchased.

According to primitive economics, all prices are of the same kind and differ only quantitatively ; they only express more or less money, and can only go up or down.

This is the dominant interpretation, within the framework of equilibrium economics, which suggests that production prices are really a kind of " equilibrium prices ".

In transaction cost economics, opportunism means self-interest seeking with guile, involving some kind of deliberate deceit and the absence of moral restraint.

From the point of view of economics and efficiency, it is usually considered better to give someone a monetary equivalent of some benefit than the benefit ( say, a liter of milk ) in kind.