Financial economicsFinancial economics is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on both sides of a trade". Its concern is thus the interrelation of financial variables, such as share prices, interest rates and exchange rates, as opposed to those concerning the real economy. It has two main areas of focus: asset pricing and corporate finance; the first being the perspective of providers of capital, i.e.
InventionAn invention is a unique or novel device, method, composition, idea or process. An invention may be an improvement upon a machine, product, or process for increasing efficiency or lowering cost. It may also be an entirely new concept. If an idea is unique enough either as a stand alone invention or as a significant improvement over the work of others, it can be patented. A patent, if granted, gives the inventor a proprietary interest in the patent over a specific period of time, which can be licensed for financial gain.
Inventive step and non-obviousnessThe inventive step and non-obviousness reflect a general patentability requirement present in most patent laws, according to which an invention should be sufficiently inventive—i.e., non-obvious—in order to be patented. In other words, "[the] nonobviousness principle asks whether the invention is an adequate distance beyond or above the state of the art". The expression "inventive step" is predominantly used in Europe, while the expression "non-obviousness" is predominantly used in United States patent law.
Sociology of scientific knowledgeThe sociology of scientific knowledge (SSK) is the study of science as a social activity, especially dealing with "the social conditions and effects of science, and with the social structures and processes of scientific activity." The sociology of scientific ignorance (SSI) is complementary to the sociology of scientific knowledge. For comparison, the sociology of knowledge studies the impact of human knowledge and the prevailing ideas on societies and relations between knowledge and the social context within which it arises.
Sufficiency of disclosureSufficiency of disclosure or enablement is a patent law requirement that a patent application disclose a claimed invention in sufficient detail so that the person skilled in the art could carry out that claimed invention. The requirement is fundamental to patent law: a monopoly is granted for a given period of time in exchange for a disclosure to the public how to make or practice the invention. The disclosure requirement lies at the heart and origin of patent law.
Corporate capitalismIn social science and economics, corporate capitalism is a capitalist marketplace characterized by the dominance of hierarchical and bureaucratic corporations. A large proportion of the economy of the United States and its labour market falls within corporate control. In the developed world, corporations dominate the marketplace, comprising 50% or more of all businesses. Those businesses which are not corporations contain the same bureaucratic structure of corporations, but there is usually a sole owner or group of owners who are liable to bankruptcy and criminal charges relating to their business.
OpennessOpenness is an overarching concept or philosophy that is characterized by an emphasis on transparency and collaboration. That is, openness refers to "accessibility of knowledge, technology and other resources; the transparency of action; the permeability of organisational structures; and the inclusiveness of participation". Openness can be said to be the opposite of closedness, central authority and secrecy. Openness has been attributed to a wide array of approaches in very different contexts as outlined below.
Financial econometricsFinancial econometrics is the application of statistical methods to financial market data. Financial econometrics is a branch of financial economics, in the field of economics. Areas of study include capital markets, financial institutions, corporate finance and corporate governance. Topics often revolve around asset valuation of individual stocks, bonds, derivatives, currencies and other financial instruments. It differs from other forms of econometrics because the emphasis is usually on analyzing the prices of financial assets traded at competitive, liquid markets.
Financial analystA financial analyst is a professional, undertaking financial analysis for external or internal clients as a core feature of the job. The role may specifically be titled securities analyst, research analyst, equity analyst, investment analyst, or ratings analyst. The job title is a broad one: in banking, and industry more generally, various other analyst-roles cover financial management and (credit) risk management, as opposed to focusing on investments and valuation; these are also discussed in this article.
Funding of scienceResearch funding is a term generally covering any funding for scientific research, in the areas of natural science, technology, and social science. Different methods can be used to disburse funding, but the term often connotes funding obtained through a competitive process, in which potential research projects are evaluated and only the most promising receive funding. It is often measured via Gross domestic expenditure on R&D (GERD).
