Experimental development services in economics

CPC v2.1 Code: 81232

About experimental development services in economics

cpc code 81232 covers experimental development services in the field of economics. This industry plays a crucial role in advancing our understanding of economic systems, policies, and behaviors. By conducting research and developing new economic models, theories, and analytical tools, professionals in this field contribute to the broader economic landscape and inform decision-making processes at both the private and public levels.

Production process

Experimental development services in economics typically involve a range of research methodologies, including data collection, statistical analysis, econometric modeling, and simulation techniques. Researchers in this industry may utilize a variety of data sources, such as surveys, administrative records, and market data, to investigate economic phenomena and test hypotheses. The development of new economic theories and models often involves iterative processes of hypothesis formulation, model building, and empirical validation.

Production inputs

The main inputs required for experimental development services in economics include highly skilled labor, such as economists, statisticians, and data analysts, as well as access to relevant data sources and computational resources. Researchers in this industry may also rely on specialized software, databases, and research materials to support their work. Additionally, funding from public and private sources, such as government agencies, research institutions, and private organizations, is essential for sustaining these development activities.

Production outputs

The primary outputs of experimental development services in economics are new or improved economic theories, models, and analytical tools. These outputs can be disseminated through academic publications, policy reports, and consultancy services, and may be consumed by a range of stakeholders, including 92111 Government administration, 70200 Management consultancy activities, and 85420 Higher education. The insights and innovations generated by this industry can inform economic policymaking, business strategy, and the broader understanding of economic phenomena.

Family tree for experimental development services in economics

    graph LR
    A["<a href='/classifications/cpc/v2-1/8'>8: Business and production services</a>"]
A --> B["<a href='/classifications/cpc/v2-1/81'>81: Research and development services</a>"]
B --> C["<a href='/classifications/cpc/v2-1/812'>812: Research and experimental development services in social sciences and humanities</a>"]
C --> D["<a href='/classifications/cpc/v2-1/8123'>8123: Experimental development services in social sciences and humanities</a>"]
D --> E["<a href='/classifications/cpc/v2-1/81232'>81232: Experimental development services in economics</a>"]

    D --> F["<a href='/classifications/cpc/v2-1/81231'>81231: Experimental development services in psychology</a>"]
D --> G["<a href='/classifications/cpc/v2-1/81233'>81233: Experimental development services in law</a>"]
D --> H["<a href='/classifications/cpc/v2-1/81234'>81234: Experimental development services in languages and literature</a>"]
D --> I["<a href='/classifications/cpc/v2-1/81239'>81239: Experimental development services in other social sciences and humanities</a>"]

    

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