Applied Economics

Applied economics is the application of economic theory and analysis. While not a field of economics, it is typically characterized by the application of economic theory and econometrics to address practical issues in a range of fields including demographic economics, labour economics, business economics, industrial organization, 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".

Read more about Applied Economics:  Origins of The Term, J.N. Keynes Discussion, Other 19th and Early 20th Century Economists Use of The Term, Critique

Other articles related to "applied economics, applied, economics":

Applied Economics: Thinking Beyond Stage One - Sources - Reviews
... "Book Review "Applied Economics Thinking Beyond Stage One" by Thomas Sowell - politics" ... ... "Thomas Sowell - Applied Economics Economic Facts and Fallacies" ...
Agricultural & Applied Economics Association
... The Agricultural Applied Economics Association (AAEA) is a professional association for those interested in the field of agricultural and applied ...
Charles H. Dyson School Of Applied Economics And Management - Academics
... The department offers one undergraduate major, Applied Economics and Management, which is an AACSB accredited undergraduate business program, one of only two in the Ivy League ... it has developed over the years to focus on both resource economics and applied economics ... may choose one of ten specializations Accounting, Agribusiness Management, Applied Economics, Entrepreneurship, Environmental and Resource Economics, Finance ...
Applied Economics - Critique
... that there is an accepted "theoretical core" and that this can be applied in a range of areas, relies on this core having specific characteristics ... But they note that as with the definition of applied economics itself, there is within the economics profession, differing views as to what belongs in ... of research on topics in the core versus applied economics research ...

Famous quotes containing the words economics and/or applied:

    There is no such thing as a free lunch.

    An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)

    That a good fit between parental handling and child temperament is vital to help children adapt to the imperatives of their society is a crucial concept that can be applied to other cultures.
    Stella Chess (20th century)