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empirical
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based on what is experienced or seen rather than on theory
mimic
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to copy the particular way of behaviour of something else
microeconomics
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the study of the economic problems of businesses and people and the way particular parts of an economy behave
consequently
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as a result
assumption
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when you accept something as true, without proof
welfare
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help given by organizations to people in need
wage subsidy
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a particular amount of money given as part of the cost of something
variable
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likely to change often
counterfactual
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thinking about what did not happen but could have happened
labouer market
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people in the country that are willing to work, but are jobless
vast
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huge
eligible
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having the necessary qualities
overcome
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to succeed in controlling something
exclude
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to prevent someone or something from something(some activity)
incentive
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something that encourages a person to do something
drawback
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a disadvantage
amenable
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willing to accept a suggestion
extrapolation
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the process of using information that is already known to guess or think about what might happen
spillover
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an effect that results from a problem spreading
substitution
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the use of one person or thing instead of another
displacement
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situation when people are forced to leave the place they live in
equilibrium
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a state of balance
impliment
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to start using a system
recession
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a period when the economy of a country is not successful and conditions for business are bad
evaluation
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- the process of judging something in terms of quality
sufficient
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enough for particular purpose
refined
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improved because of many small changes
toolbox
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a box in which you keep tools
econometric
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relating to the testing of the performance of economies and economic theories using mathematical methods
endogenous
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used in economics to describe something that is inside a particular system
exogenous
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used in economics to describe something that is outside a particular system
emanate
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to express the quality of your current look
ingenious
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very intelligent and skilful
treatment
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the way you behave towards somebody
clarify
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to make something clear(easier to understand)
cornerstone
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something of great importance that everything else depends on
lay something out
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to put something on a flat surface
measure
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to learn something’s true size
parameter
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a set of facts or a fixed limit that establishes or limits how something can or must happen or be done
impact
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a powerful effect on something
dummy
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something that is used to practise something on it
agent
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a person who represents another
superscript
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a word, letter, number, or symbol written or printed just above a word, letter, number, or symbol, usually in a smaller size
enrolment
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when you put yourself or someone else onto the list of members of a course/group
simultaneous
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happening at exactly the same time
diffrentiated
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clearly different from others
component
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a part of something bigger
contrary
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opposite
bias
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the action of supporting or opposing a person in an unfair way
self-selecting
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involving people that are involved in the action to select on their own rather that selecting them from outside the action
equivalent
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having the same amount
contemporaneous
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happening or existing at the same period of time
comparability
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the fact that something in similar regardless different conditions
longitudinal
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lengthwise
robust
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strong and healthy
derived
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coming from or caused by something else
idiosyncratic
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having strange or unusual habits
facilitate
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to make something possible or easier
inhibit
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to prevent someone from doing something by making them feel nervous
intrisically
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in a way that is an extremely important and basic characteristic of a person
infinitesimal
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extra small
nil
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nothing
subset
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a set that is a part of another bigger set
omit
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to fail to include or do something
artificial
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made by people
acknowledge
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to accept the truth about something
cohort
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a group of people who share a characteristic
macroeconomics
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the study of financial systems at a national level
versatile
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able to change easily from one activity to another
abundant
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more than enough
numerator
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the number above the line in a fraction
quantity
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an amount of something
ancillary
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providing support or help
proximity
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the state of being near in space or time
forecast
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a statement of what is judged likely to happen in the future
hypothesis
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an idea or explanation for something that is based on known facts but has not yet been proved
applicant
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a person who is applying for something
diverged substantially
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to follow a diffrent direction in a large margin
distinguisch
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to notice or understand the difference between two things
magnitude
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the large importance of something
monotonic function
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is a function between ordered sets that preserves or reverses the given order.
mandatory
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obligatory
eligibility
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the fact of having the necessary qualities

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