What's the difference between economics and statistics?

Economics


Definition:

  • (n.) The science of household affairs, or of domestic management.
  • (n.) Political economy; the science of the utilities or the useful application of wealth or material resources. See Political economy, under Political.

Example Sentences:

  • (1) The recent rise in manufacturing has been welcomed by George Osborne as a sign that his economic policies are bearing fruit.
  • (2) An “out” vote would severely disrupt our lives, in an economic sense and a private sense.
  • (3) Of course the job is not done and we will continue to remain vigilant to all risks, particularly when the global economic situation is so uncertain,” the chancellor said in a statement.
  • (4) The west Africa Ebola epidemic “Few global events match epidemics and pandemics in potential to disrupt human security and inflict loss of life and economic and social damage,” he said.
  • (5) He had been extremely frustrated that indicators of economic recovery over the past few days had been drowned out by the clamour over the Labour leadership.
  • (6) "There is … a risk that the political, trade, and gas frictions with Russia could lead to strong deterioration in economic relations between the two countries, with a significant drop in Ukraine's exports to and imports from Russia.
  • (7) There was a 35% decrease in the number of patients seeking emergency treatment and one study put the savings in economic and social costs at just under £7m a year .
  • (8) It is widely seen as a counter to China’s economic might in Asia, and the world’s second largest economy is notably absent from the list of signatories.
  • (9) From the social economic point of view nosocomial infections represent a very important cost factor, which could be reduced to great deal by activities for prevention of nosocomial infection.
  • (10) He said Germany was Russia’s most important economic partner, and pointed out that 35% of German gas originated in Russia.
  • (11) "These developments are clearly unwarranted on the basis of economic and budgetary fundamentals in these two member states and the steps that they are taking to reinforce those fundamentals."
  • (12) It did the job of triggering growth, but it also fueled real-estate speculation, similar to what was going on in the mid-2000s here.” Slowing economic growth may be another concern.
  • (13) October 23, 2013 3.55pm BST Another reason to be concerned about the global economy - Canada's central bank has slashed its economic forecasts for the US.
  • (14) The district’s $110bn of economic activity went up by 22% since 2007, outpacing city growth by 9% during the same period.
  • (15) Socio-economic improvement or behavioural changes appear necessary for the control of trachoma in endemic areas.
  • (16) Biomass and crops for animals are as damaging as [burning] fossil fuels.” The recommendation follows advice last year that a vegetarian diet was better for the planet from Lord Nicholas Stern , former adviser to the Labour government on the economics of climate change.
  • (17) To safeguard its long-time regional ally, Iran gave full political, economic and military backing to the embattled Syrian president.
  • (18) Based on the economics of most countries in Africa, their Health Budgets can afford mostly the non-opioid and strong opioid drugs in more or less adequate quantities.
  • (19) He elaborates: "Republicans use powerful economic wedge issues to great impact.
  • (20) Documents seen by the Guardian show that blood supplies for one fiscal year were paid for by donations from America’s Office of Foreign Disaster Assistance (OFDA) and Britain’s Department for International Development (DfID) – and both countries have imposed economic sanctions against the Syrian government.

Statistics


Definition:

  • (n.) The science which has to do with the collection and classification of certain facts respecting the condition of the people in a state.
  • (n.) Classified facts respecting the condition of the people in a state, their health, their longevity, domestic economy, arts, property, and political strength, their resources, the state of the country, etc., or respecting any particular class or interest; especially, those facts which can be stated in numbers, or in tables of numbers, or in any tabular and classified arrangement.
  • (n.) The branch of mathematics which studies methods for the calculation of probabilities.

Example Sentences:

  • (1) The statistical T value calculated for the LP-TAE group showed that the administration of LP, the tumor size, intrahepatic metastasis, portal vein infiltration, and serum total bilirubin and alpha-fetoprotein levels significantly (P < 0.01) affected the patients' survival.
  • (2) No statistically significant difference was found between sodium hyaluronate and hydroxypropylmethylcellulose (HPMC).
  • (3) However, there was no statistically significant difference in mean areas under the LH and FSH curves in the GnRH-treated groups.
  • (4) Statistically significant differences were found mainly in the randomized trial, where during the first and second years, respectively, adenoidectomy subjects had 47% and 37% less time with otitis media than control subjects and 28% and 35% fewer suppurative (acute) episodes than control subjects.
  • (5) Altogether 47 variables were investigated, and of these 34 gave results which were statistically significant.
  • (6) Regression curves indicate that although all three types of pulmonary edema can be characterized by slightly different slopes, the differences are statistically insignificant.
  • (7) The level of significance of the statistical estimate of the change in the number of phonoreactive units (its increase due to deprivation) amounts to 92%.
  • (8) Statistically significant increases of triglycerides occurred under the combined preparations, of phospholipids under Ovosiston and Deposiston and of the beta-lipoproteins under Ovosiston and Gravistat.
  • (9) Moreover, the data showed for the first time that DNA synthesis in the bone marrow and spleen and colon were markedly statistically significantly stimulated at specific times after treatment.
  • (10) = 19) with a very low, but statistically significant, correlation with the AUC, r = 0.35 (p less than 0.05), thus demonstrating a very great individual variation in sensitivity to cimetidine.
  • (11) There were no statistically significant increases in ABR thresholds for irradiated ears vs. control ears.
  • (12) Differences between N1 and N2 disease were not statistically significant.
  • (13) Charge data from the target hospital showed a statistically significant reduction in laboratory charges per patient in the quarter following program initiation (P = 0.02) and no evidence for change in a group of five comparison hospitals.
  • (14) However, each of the studies had numerous methodological flaws which biased their results against finding a relationship: either their outcome measures had questionable validity, their research designs were inappropriate, or the statistical analyses were poorly conceived.
  • (15) Are you ready to vote?” is the battle cry, and even the most superficial of glances at the statistics tells why.
  • (16) The prevalence of diabetes was 36% higher among San Antonio Mexican Americans than among Mexicans in Mexico City; this difference was highly statistically significant (age- and sex-adjusted prevalence ratio 1.36, P = 0.006).
  • (17) We found no statistically significant difference in one-year, biochemically validated, sustained cessation rates between the group offered the long-term follow-up visits (12.5%) and the group given the brief intervention (10.2%).
  • (18) The results are analysed statistically and summarized in graphs.
  • (19) Mononuclear phagocytic cells from patients with either principal form of leprosy functioned similarly to normal monocytes in phagocytosis while their fungicidal activity for C. pseudotropicalis was statistically significantly altered and was more evident in the lepromatous than in the tuberculoid type.
  • (20) Although statistical analysis did not show dramatic changes in all these parameters, some individual extreme values were substantially altered.