Warsaw, Poland

Quantitative Methods in Economy and Information Systems

Metody ilościowe w ekonomii i systemy informacyjne

Bachelor's
Language: PolishStudies in Polish
Subject area: economy and administration
Kind of studies: part-time studies
  • Description:

  • pl
University website: ssl-www.sgh.waw.pl/en
Economy
An economy (from Greek οίκος – "household" and νέμoμαι – "manage") is an area of the production, distribution, or trade, and consumption of goods and services by different agents. Understood in its broadest sense, 'The economy is defined as a social domain that emphasizes the practices, discourses, and material expressions associated with the production, use, and management of resources'. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. However, monetary transactions only account for a small part of the economic domain.
Information
Information is any entity or form that provides the answer to a question of some kind or resolves uncertainty. It is thus related to data and knowledge, as data represents values attributed to parameters, and knowledge signifies understanding of real things or abstract concepts. As it regards data, the information's existence is not necessarily coupled to an observer (it exists beyond an event horizon, for example), while in the case of knowledge, the information requires a cognitive observer.
Quantitative
Quantitative information or data is based on quantities obtained using a quantifiable measurement process. In contrast, qualitative information records qualities that are descriptive, subjective or difficult to measure.
Information
Information can tell us everything. It has all the answers. But they are answers to questions we have not asked, and which doubtless don’t even arise.
Jean Baudrillard French semiologist. Cool Memories, Ch. 5 (1987, trans. 1990).
Information
Private information is practically the source of every large modern fortune.
Oscar Wilde (1854–1900), Anglo-Irish playwright, author. Sir Robert Chiltern, in An Ideal Husband, Act 1.
Information
If you torture the data enough, nature will always confess.
Ronald Coase "How should economists choose?" Warren Nutter Lecture, 1981. Reprinted in Essays on Economics and Economists (1994) p. 27.
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