ECONOMIC ANALYSIS: The process of investigating economic phenomena in a systematic manner. In one sense, this is the heart and soul of the economic discipline. While economists spend ample time identifying economic concepts, the end result of this discovery process is usually aimed at combining these concepts in such a way as to evaluate or analyze alternative consequences. See also | economics | phenomenon | economist | scientific method | comparative statics | ceteris paribus | cause and effect | determinants | demand shock | supply shock |
