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Some of these areas are unique, while others established areas of economics by allowing robust data analytics and solutions of problems that would be arduous to research without computers and associated numerical methods. [2] Computational methods have been applied in various fields of economics research, including but not limiting to:
Econometrics is a branch of economics that applies statistical methods to the empirical study of economic theories and relationships. Environmental statistics is the application of statistical methods to environmental science. Weather, climate, air and water quality are included, as are studies of plant and animal populations.
Computational finance is a branch of applied computer science that deals with problems of practical interest in finance. [1] Some slightly different definitions are the study of data and algorithms currently used in finance [2] and the mathematics of computer programs that realize financial models or systems. [3]
Applied economics is the application of economic theory and econometrics in specific settings. As one of the two sets of fields of economics (the other set being the core), [1] it is typically characterized by the application of the core, i.e. economic theory and econometrics to address practical issues in a range of fields including demographic economics, labour economics, business economics ...
Computational statistics, or statistical computing, is the study which is the intersection of statistics and computer science, and refers to the statistical methods that are enabled by using computational methods. It is the area of computational science (or scientific computing) specific to the mathematical science of statistics. This area is ...
Business informatics centers around creating programming and equipment frameworks which ultimately provide the organization with effective operation based on information technology application. [1] The focus on programming and equipment boosts the value of the analysis of economics and information technology.
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Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics.Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods.