Measurement uncertaintyIn metrology, measurement uncertainty is the expression of the statistical dispersion of the values attributed to a measured quantity. All measurements are subject to uncertainty and a measurement result is complete only when it is accompanied by a statement of the associated uncertainty, such as the standard deviation. By international agreement, this uncertainty has a probabilistic basis and reflects incomplete knowledge of the quantity value. It is a non-negative parameter.
Comparability graphIn graph theory, a comparability graph is an undirected graph that connects pairs of elements that are comparable to each other in a partial order. Comparability graphs have also been called transitively orientable graphs, partially orderable graphs, containment graphs, and divisor graphs. An incomparability graph is an undirected graph that connects pairs of elements that are not comparable to each other in a partial order.
Economic inequalityEconomic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
Trivially perfect graphIn graph theory, a trivially perfect graph is a graph with the property that in each of its induced subgraphs the size of the maximum independent set equals the number of maximal cliques. Trivially perfect graphs were first studied by but were named by ; Golumbic writes that "the name was chosen since it is trivial to show that such a graph is perfect." Trivially perfect graphs are also known as comparability graphs of trees, arborescent comparability graphs, and quasi-threshold graphs.
Economic justiceEconomic justice intersects with economic prosperity as if all members of society can earn wages then they are contributing to the economic growth. These wages are then turned into the buying of goods which works to drive the economy, but it only works if everyone can "provide for themselves and maintain discretionary income." Justice in economics is a subcategory of social justice and welfare economics. It is a "set of moral and ethical principles for building economic institutions".
Perfect graphIn graph theory, a perfect graph is a graph in which the chromatic number equals the size of the maximum clique, both in the graph itself and in every induced subgraph. In all graphs, the chromatic number is greater than or equal to the size of the maximum clique, but they can be far apart. A graph is perfect when these numbers are equal, and remain equal after the deletion of arbitrary subsets of vertices. The perfect graphs include many important families of graphs and serve to unify results relating colorings and cliques in those families.
Dilworth's theoremIn mathematics, in the areas of order theory and combinatorics, Dilworth's theorem characterizes the width of any finite partially ordered set in terms of a partition of the order into a minimum number of chains. It is named for the mathematician . An antichain in a partially ordered set is a set of elements no two of which are comparable to each other, and a chain is a set of elements every two of which are comparable. A chain decomposition is a partition of the elements of the order into disjoint chains.
Public administrationPublic Administration or Public Policy and Administration (an academic discipline) is the implementation of public policy, administration of government establishment (public governance), management of non-profit establishment (nonprofit governance), and also a subfield of political science taught in public policy schools that studies this implementation and prepares people, especially civil servants in administrative positions for working in the public sector, voluntary sector, some industries in the privat
Market (economics)In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
Market failureIn neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. Market failures can be viewed as scenarios where individuals' pursuit of pure self-interest leads to results that are not efficient – that can be improved upon from the societal point of view. The first known use of the term by economists was in 1958, but the concept has been traced back to the Victorian philosopher Henry Sidgwick.
Market economyA market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.
Uncertainty quantificationUncertainty quantification (UQ) is the science of quantitative characterization and estimation of uncertainties in both computational and real world applications. It tries to determine how likely certain outcomes are if some aspects of the system are not exactly known. An example would be to predict the acceleration of a human body in a head-on crash with another car: even if the speed was exactly known, small differences in the manufacturing of individual cars, how tightly every bolt has been tightened, etc.
PolicyPolicy is a deliberate system of guidelines to guide decisions and achieve rational outcomes. A policy is a statement of intent and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organization. Policies can assist in both subjective and objective decision making. Policies used in subjective decision-making usually assist senior management with decisions that must be based on the relative merits of a number of factors, and as a result, are often hard to test objectively, e.
Master of Public AdministrationA Master of Public Administration (MPA) is a specialized professional graduate degree in public administration, similar or equivalent to a Master of Business Administration but with an emphasis on the issues of public services. The MPA program is a higher professional degree and a post graduate degree for the public sector and it prepares individuals to serve as managers, executives and policy analysts in the executive arm of local, state/provincial, and federal/national government, and increasingly in non-governmental organization (NGO) and nonprofit sectors; it places a focus on the practices of executive organization and management.
Doctor of Public AdministrationThe Doctor of Public Administration (D.P.A.) is a terminal applied-research doctoral degree in the field of public administration (a part of public service). The D.P.A. requires significant coursework beyond the masters level and a dissertation that contributes to theory or practice. Upon successful completion, the title of "Doctor" is awarded and the post-nominal letters of D.P.A. or DPA can be used. Like a Ph.D., a D.P.A. is normally a terminal research degree. The U.S. Department of Education and the U.
Economic modelIn economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. A model may have various exogenous variables, and those variables may change to create various responses by economic variables.
Rational choice theoryRational choice theory refers to a set of guidelines that help understand economic and social behaviour. The theory originated in the eighteenth century and can be traced back to political economist and philosopher, Adam Smith. The theory postulates that an individual will perform a cost-benefit analysis to determine whether an option is right for them. It also suggests that an individual's self-driven rational actions will help better the overall economy. Rational choice theory looks at three concepts: rational actors, self interest and the invisible hand.
Evidence-based policyEvidence-based policy is a concept in public policy that advocates for policy decisions to be grounded on, or influenced by, rigorously established objective evidence. This concept presents a stark contrast to policymaking predicated on ideology, 'common sense,' anecdotes, or personal intuitions. The approach mirrors the effective altruism movement's philosophy within governmental circles. The methodology employed in evidence-based policy often includes comprehensive research methods such as randomized controlled trials (RCT).
