mathematics

Quantitative Economics

Quantitative Economics is a mathematics topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Quantitative Economics rather than just read about it. In short: Quantitative Economics is a peer-reviewed open access academic journal covering econometrics. It is sponsored by the Econometric Society, was established in 2010, and is published by Wiley-Blackwell.

Key takeaways

Quantitative Economics belongs to mathematics; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Quantitative Economics to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Quantitative Economics from memory before moving on to harder problems.

Reference excerpt

Quantitative Economics is a peer-reviewed open access academic journal covering econometrics. It is sponsored by the Econometric Society, was established in 2010, and is published by Wiley-Blackwell. The editor-in-chief is Christopher Taber (University of Wisconsin–Madison). According to the Journal Citation Reports, the journal has a 2017 impact factor of 1.42, ranking it 129th out of 353 journals in the category "Economics".

References

External links Official website

Worked examples

Example 1 — a first encounter with Quantitative Economics

Start with the simplest possible case. Write down what Quantitative Economics claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In mathematics, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Quantitative Economics before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Quantitative Economics ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Quantitative Economics

In research: Quantitative Economics appears in mathematics research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Quantitative Economics in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Quantitative Economics is common in secondary-school and first-year university syllabi. It links to neighbouring topics Academic journals associated with international learned and professional societies, Academic journals established in 2010, Econometric Society, so understanding it makes those chapters shorter.
In everyday life: Look for Quantitative Economics outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

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How to study Quantitative Economics in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Quantitative Economics means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Quantitative Economics out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Quantitative Economics in simple terms?

Quantitative Economics is a peer-reviewed open access academic journal covering econometrics. It is sponsored by the Econometric Society, was established in 2010, and is published by Wiley-Blackwell.

Why does Quantitative Economics matter?

Because it connects several mathematics ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Quantitative Economics?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Quantitative Economics.