York, United Kingdom

Finance, Operations Research, Management and Statistics

Bachelor's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: BSc
Kind of studies: full-time studies
Bachelor of Science (BSc)
University website: www.york.ac.uk
Finance
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management. Market participants aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be broken into three sub-categories: public finance, corporate finance and personal finance.
Management
Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.
Operations Research
Operations research, or operational research in British usage, is a discipline that deals with the application of advanced analytical methods to help make better decisions. Further, the term 'operational analysis' is used in the British (and some British Commonwealth) military as an intrinsic part of capability development, management and assurance. In particular, operational analysis forms part of the Combined Operational Effectiveness and Investment Appraisals (COEIA), which support British defense capability acquisition decision-making.
Research
Research comprises "creative and systematic work undertaken to increase the stock of knowledge, including knowledge of humans, culture and society, and the use of this stock of knowledge to devise new applications." It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories. A research project may also be an expansion on past work in the field. Research projects can be used to develop further knowledge on a topic, or in the example of a school research project, they can be used to further a student's research prowess to prepare them for future jobs or reports. To test the validity of instruments, procedures, or experiments, research may replicate elements of prior projects or the project as a whole. The primary purposes of basic research (as opposed to applied research) are documentation, discovery, interpretation, or the research and development (R&D) of methods and systems for the advancement of human knowledge. Approaches to research depend on epistemologies, which vary considerably both within and between humanities and sciences. There are several forms of research: scientific, humanities, artistic, economic, social, business, marketing, practitioner research, life, technological, etc.
Statistics
Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, presentation, and organization of data. In applying statistics to, for example, a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model process to be studied. Populations can be diverse topics such as "all people living in a country" or "every atom composing a crystal". Statistics deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments. See glossary of probability and statistics.
Operations Research
[The decisionmaking role of the firm has progressed from the neoclassical standpoint of profit maximization to sales maximization, utility maximization, and satisficing. From the Operation Research point of view] ...the ideal picture is that someone, presumable the firm that hires the operations researcher, hands him, on a silver platter, an objective function. By talking to the engineers, or by looking into a few scientific laws, he determines the policy alternatives available and also the model
Kenneth Arrow (1984) cited in: Demetri Kantarelis (2008) "Book Review: Title: Theories Of The Firm 2nd Edition". In: The American economist. Vol 52, Nr 1. p. 117.
Operations Research
Operations research is a scientific approach to problem-solving for executive management.
H.M. Wagner (1969, p. 31); cited in: Donald R. Deutsch (1979) Modeling and measurement techniques for evaluation of design. p. 129.
Operations Research
Herbert A. Simon's scientific output goes far beyond the disciplines in which he has held professorships: political science, administration, psychology and information sciences. He has made contributions in the fields of science theory, applied mathematics, statistics, operations research, economics and business and public administration (and), in all areas in which he has conducted research, Simon has had something of importance to say."
The Royal Swedish Academy of Sciences (1978) "Nobel Prize announcement of the Royal Academy of Sciences in Sweden, 16 okt. 1978".
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