St Andrews, United Kingdom

Economics 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: andrews.ac.uk
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
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.
Economics
The field of economics is not exempt from the consequences of chaos and complexity. Marketplaces are indeterminate; value is subjective; and outcomes are subject to interpretation. Economic forecasting is just as nebulous, being based on the probability of statistical information that may or may not be accurate.
L.K. Samuels, In Defense of Chaos: The Chaology of Politics, Economics and Human Action, Cobden Press (2013) p. 16.
Statistics
The rise of biometry in this 20th century, like that of geometry in the 3rd century before Christ, seems to mark out one of the great ages or critical periods in the advance of the human understanding.
Sir R.A. Fisher (Sept 1948). "Biometry". Biometrics 4: 217-219.
Economics
Too often in recent history liberal governments have been wrecked on rocks of loose fiscal policy.
Franklin Delano Roosevelt, request to Congress to effect drastic economies in the government (March 10, 1933); in The Public Papers and Addresses of Franklin D. Roosevelt, 1933 (1938), p. 50.
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