They are used in a wide area of disciplines, including robotics, automated control, economics, and manufacturing.

The university prepares its engineering staff in 22 disciplines in the fields of computer facilities, computer science, radio engineering, microelectronics, telecommunications automated systems, artificial intelligence, automatic control, electronic apparatus and construction, medical electronics, and economics.

of automated internet markets, programming tools specifically designed for computational economics, and pedagogical tools for the teaching of computational economics.

In rail transport, distributed power refers to the placing of additional locomotives at intermediate points in the middle of the train, remotely controlled from the leading locomotive, to allow longer trains where operational considerations or economics require it.

Paradoxes in economics tend to be the veridical type, typically counterintuitive outcomes of economic theory, such as Simpson's paradox.

Ethics tend to be focused on moral goods rather than natural goods, while economics tends to be interested in the opposite.

In 2003 he explained his editorial policy for The Spectator was to " always be roughly speaking in favour of getting rid of Saddam, sticking up for Israel, free-market economics, expanding choice " and that the magazine was " not necessarily a Thatcherite Conservative or a neo-conservative magazine, even though in our editorial coverage we tend to follow roughly the conclusions of those lines of arguments ".

Within Austrian economics, economic bubbles are generally considered to have a negative impact on the economy because they tend to cause misallocation of resources into non-optimal uses ; this forms the basis of Austrian business cycle theory.

In public economics theory, infrastructure assets such as highways and railways tend to be public goods, in that they carry a high degree of non-excludability, where no household can be excluded from using it, and non-rivalry, where no household can reduce another from enjoying it.

The Iron Law of Wages is a proposed law of economics that asserts that real wages always tend, in the long run, toward the minimum wage necessary to sustain the life of the worker.

* Liberals and those on the left tend to favor more freedom in personal areas ( example: no military draft ), but more government activism or control in economics ( example: a government-mandated minimum wage ).

Liberal Muslims tend to be skeptical about the validity of Islamization of knowledge ( including Islamic economics, Islamic science, Islamic history and Islamic philosophy ) as separate from mainstream fields of inquiry.

Value assumptions explicit in the social welfare function used and implicit in the efficiency criterion chosen tend to make welfare economics a normative and perhaps subjective field.

In criticizing mainstream economics for its alleged faulty philosophical premises ( for example the pursuit of self-interest ) and neglect of dysfunctional economic relationships, such advocates tend to classify social economics as heterodox.

Many undergraduate Agricultural Economics degrees given by US land-grant universities tend to be more like a traditional business degree rather than a traditional economics degree.

The followers of this ethic typically argue that capitalist and communist societies tend to encourage a " labor " mentality towards life either directly or indirectly through the cost of living, labor markets, the work week, applying normative values to economics, and social conventions.

The idea of convergence in economics ( also sometimes known as the catch-up effect ) is the hypothesis that poorer economies ' per capita incomes will tend to grow at faster rates than richer economies.

Within neoclassical economics there may be recognition of ' externalities ' and market failure, but many economists ( such as the Austrian school, see below ) tend to ignore or underestimate their importance.

Keynesian economics emphasizes the cyclical nature of unemployment and recommends interventions it claims will reduce unemployment during recessions.

In economics, a public good is a good that is both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

Risk aversion is a concept in psychology, economics, and finance, based on the behavior of humans ( especially consumers and investors ) while exposed to uncertainty to attempt to reduce that uncertainty.

Central to feminist economics is an effort to alter the theoretical modeling of the economy, to reduce gender bias and inequity.

Based on the Singapore Model of economics, its main goal is to reduce taxes while balancing the budget by reducing the size and role of government.

Balladur proposed a liberal program and took advantage of the " positive results " of his cabinet, whereas Chirac advocated Keynesian economics to reduce the " social fracture " and criticized the " dominant ideas ", targeting Balladur.

< http :// economics. ca / cgi / jab? journal = cpp & view = v07n1 / CPPv07n1p001. pdf > page 10 </ ref > Some economists speculated the NEP would discourage large-scale oil investment projects and thus reduce these projected revenues.

According to the Austrian School of economics, full-reserve banking would eliminate ( or at least greatly reduce ) the financial risks associated with bank runs, as the bank would have all the money in reserve needed to pay depositors, regardless whether depositors actually claimed their money.

In general theories of economics seek to reduce or eliminate the number of intangible factors.

In economics, the hold-up problem is a situation where two parties ( such as a supplier and a manufacturer or the owner of capital and workers ) may be able to work most efficiently by cooperating, but refrain from doing so due to concerns that they may give the other party increased bargaining power, and thereby reduce their own profits.

* In economics, the inventory control problem, which aims to reduce overhead cost without hurting sales

Meanwhile farming has evolved ( in developed countries ) in the direction of commercialization, economics of scale, and monocropping.

In 1888 he joined the Verein für Socialpolitik, a new professional association of German economists affiliated with the historical school, who saw the role of economics primarily as finding solutions to the social problems of the age and who pioneered large scale statistical studies of economic issues.

In economics and business, a network effect ( also called network externality or demand-side economies of scale ) is the effect that one user of a good or service has on the value of that product to other people.

Ecological economics is sometimes described as taking a more pluralistic approach to environmental problems and focuses more explicitly on long-term environmental sustainability and issues of scale.

The economics of organic farming, a subfield of agricultural economics, encompasses the entire process and effects of organic farming in terms of human society, including social costs, opportunity costs, unintended consequences, information asymmetries, and economies of scale.

* Returns to scale, an economics concept

The use of group-lending was motivated by economics of scale, as the costs associated with monitoring loans and enforcing repayment are significantly lower when credit is distributed to groups rather than individuals.

In economics, returns to scale and economies of scale are related terms that describe what happens as the scale of production increases.

Commentators, such as the historian Richard Pipes, the philosopher Michael Polanyi, and the economists such as Paul Craig Roberts or Sheldon L. Richman, have argued that War communism was actually an attempt immediately to eliminate private property, commodity production and market exchange, and in that way to implement communist economics, and that the Bolshevik leaders expected an immediate and large scale increase in economic output.

In economics, shock therapy refers to the sudden release of price and currency controls, withdrawal of state subsidies, and immediate trade liberalization within a country, usually also including large scale privatization of previously public owned assets.

In physics, mathematics, statistics, and economics, scale invariance is a feature of objects or laws that does not change if scales of length, energy, or other variables, are multiplied by a common factor.

The synthetic chemistry specialization in medicinal chemistry aimed at adaptation and optimization of the synthetic route for industrial scale syntheses of 100's of kilograms or more is termed process synthesis, and involves thorough knowledge of acceptable synthetic practice in the context of large scale reactions ( reaction thermodynamics, economics, safety, etc .).

In economics, returns to scale and economies of scale are related terms that describe what happens as the scale of production increases in the long run, when all input levels including physical capital usage are variable ( chosen by the firm ).

Y = 2x + 3In economics, a cardinal utility function or scale is a utility index that preserves preference orderings uniquely up to positive affine transformations.

“ In fact, the crisis has revealed behaviours like selfishness, collective greed and hoarding of goods on a great scale ,” it said, adding that world economics needed an “ ethic of solidarity ” among rich and poor nations.

Although there was nothing particularly ' new ' about the idea of protecting ' infant industries ' ( an idea offered in theory since the 18th century, and in trade policy since the 1880s ) what was new in " new trade theory " was the rigour of the mathematical economics used to model the increasing returns to scale, and especially the use of the network effect to argue that the formation of important industries was path dependent in a way which industrial planning and judicious tariffs might control.

Looking back in 1996 Krugman wrote that International economics a generation earlier had completely ignored returns to scale.

The master-feeder structure allows asset managers to capture the efficiencies of larger pools of assets ( see economics of scale ) although fashioning investment funds to separate market niches.