Yekaterinburg, Russia

Knowledge Economics

Language: English Studies in English
Subject area: economy and administration
University website: urfu.ru/en/
3 years
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Knowledge
Knowledge is a familiarity, awareness, or understanding of someone or something, such as facts, information, descriptions, or skills, which is acquired through experience or education by perceiving, discovering, or learning.
Knowledge
Faites comme si je ne le savais pas.
Act as though I knew nothing.
Economics
In my youth it was said that what was too silly to be said may be sung. In modern economics it may be put into mathematics.
Ronald Coase, The firm, the market and the law (1988) Chapter 6. A remark on "The problem of social cost" (last sentence).
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.
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