Education is an important and indispensable pillar of modern society. When did education become so important? Education is as vital as policies that seek to optimize the management of basic needs in an economy. In a society that relies heavily on intellectual property rights, information technology, processing, to name but a few, it is unavoidable to insist on inspiring people to invest in their knowledge and wisdom. Our goal is to invest in eduction in the young generation als well as in the rest of the population.
Social distancing measures propagated by health experts and belatedly by governments worldwide as a means of health risk minimizer, are yet to unfold their full impact on health risk management caused by the COVID-19. Nevertheless, social distancing poses a high risk to the economic and social life of affected communities globally. Fears of a global economic slowdown have dominated discussions amongst the public, experts of different disciplines, politicians, entrepreneurs, and others.
How are Governments courageously dealing with the Coronavirus-Pandemic and the Corona-Crisis? Worldwide politicians are reacting very differently. Reactions to the pandemic have now become a war between optimism and pessimism. While some politicians realize how serious the current health crisis will be, others are busy procrastinating about an optimistic future. Early birds catch the worm and can navigate through the health crisis, taking leadership on flattening the pandemic spread of the Coronavirus.
Health shocks can also cause economic shocks (ceteris-paribus). The coronavirus pandemic is one of the health shocks that might unravel another global economic shock. Why is that the case? Fact number one, health is a basic human need. Consequently, the satisfaction the health needs requires human decision-making in all economies. Decision-makers face the challenge of managing the synergies between health and economics amid a health shock. How is the Scenario?
Linear regression belongs to the econometric methods of empirical research, which are applied in almost all sciences. Linear regression is set of econometric methods of estimating statistical causality between two or more factors (variables of interest).
ABB has the patent (No. PCT/EP2013/064008) with the topic “Discharge of heat from the electrical switch house on the crane”. The inventors are Bo Edmundsson and Horst Schneider. In the electrical switch house (E-House) there are heat generating as well as sensitive components. In order to guarantee operational safety, the heat generated must be efficiently extracted from the electrical building.
Econometrics is part of the economic as a science, which deals with the statistical (empirical) modelling of economic theories (hypotheses) in order to explain, confirm or disprove economic theory empirically.