Search results
Results from the WOW.Com Content Network
In oligopoly theory he developed the conjectural variation approach. Frisch also is credited with introducing the term "model" in its modern economic sense by Paul Samuelson, based on a 1930 Yale University lecture. [24] His 1933 work on impulse-propagation business cycles became one of the principles of modern New Classical business cycle ...
Scientific management is a theory of management that analyzes and synthesizes workflows. Its main objective is improving economic efficiency , especially labor productivity . It was one of the earliest attempts to apply science to the engineering of processes in management.
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. [1] More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference."
It is the application of economic theory and methodology in business management practice. Focus on business efficiency. Defined as "combining economic theory with business practice to facilitate management's decision-making and forward-looking planning." Includes the use of an economic mindset to analyze business situations.
Business administration and theory, economics, industrial engineering, music, statistics William Edwards Deming (October 14, 1900 – December 20, 1993) was an American business theorist, composer, economist, industrial engineer, management consultant, statistician, and writer.
Richard Andreas Werner (born 5 January 1967) is a German banking and development economist who is a university professor at University of Winchester.. He has proposed the "Quantity Theory of Credit", or "Quantity Theory of Disaggregated Credit", which disaggregates credit creation that are used for the real economy (GDP transactions), on the one hand, and financial transactions, on the other ...
Fisher saw that his theory, via economic policy, was making an impact on society as a whole. Once he brought out his Quantity Theory of Money, it started to bring economic models to life. One of the strongest points that Fisher brings out in discussing interest rates was the power of impatience.
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".