Applied Economics Definition:
Applied Economics means: Applied economics applies the results of economic theory and experimental studies to real-life situations with the desired purpose of being aware of economic decisions and predicting possible outcomes. Used economics aims to improve the quality of practice in business, politics, and everyday life, with consideration of costs and benefits, incentives, and human behavior. Applied economics may include the use of case studies and economometrics, ie the application of real data to data models and comparing results with experimental theories.
- Applied economics is about using the knowledge gained through economic decision making and research to make better decisions and solve real world problems.
- Applied economics is a popular tool in the analysis and evaluation of corporate planning and public policies.
- People can also benefit from applying economic thinking and knowledge to personal and financial decisions.
Literal Meanings of Applied Economics
Meanings of Applied:
(Subject or type of study) is put into practice and not theoretically.
Sentences of Applied
Synonyms of Applied
Meanings of Economics:
The branch of knowledge that deals with the production, consumption and transfer of wealth.
The state of a region or group in material prosperity.
Sentences of Economics
They are more likely to acquire this knowledge through a degree in economics at school.
Synonyms of Economics
investment, accounting, money matters, business, economics, fiscal matters, banking, money management, commerce, pecuniary matters, financial affairs