Economy vs Econometrics - What's the difference?
economy | econometrics |
Effective management of the resources of a community or system.
Collective focus of the study of money, currency and trade, and the efficient use of resources.
Frugal use of resources.
* Jonathan Swift
The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
* {{quote-magazine, date=2013-08-31, volume=408, issue=8851, magazine=(The Economist)
, title= (theology) The method of divine government of the world.
(archaic) Management of one’s (l).
Cheap to run; using minimal resources; representing good value for money.
(economics) The branch of economics that applies statistical methods to the empirical study of economic theories and relationships.
*
As nouns the difference between economy and econometrics
is that economy is effective management of the resources of a community or system while econometrics is (economics) the branch of economics that applies statistical methods to the empirical study of economic theories and relationships.As an adjective economy
is cheap to run; using minimal resources; representing good value for money.economy
English
Alternative forms
*Noun
(wikipedia economy) (economies)- I have no other notion of economy than that it is the parent to liberty and ease.
Horns of a trilemma, passage=An economy open to free movement of capital can keep a fixed exchange rate, for example, only by subjugating monetary-policy goals to its defence—by raising interest rates sharply, say, when capital outflows put downward pressure on the currency. Yet the trilemma also implies that an economy can enjoy both free capital flows and an independent monetary policy, so long as it gives up worrying about its exchange rate.}}
Derived terms
* collaborative economy * command economy * economic * economical * economist * economize * market economy * peer-to-peer economy * planned economy * sharing economyAdjective
(-)- "He bought an economy car."
- "Economy size".
