Economic Analysis: Theory and Practice

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Economic Analysis: Theory and Practice

4(355) - 2014 January

Summary of efficiency in context of topical paradigm of economics and management

Vol. 13, Iss. 4, JANUARY 2014

Available online: 29 January 2014

Subject Heading: ANALYSIS OF EFFICIENCY

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Svetlana V. Lobova Doctor of Economics Sciences, Head of the Department of Economy, Labor and Human Resource Management Sociology, the Altai State University
barnaulhome@mail.ru

Elena V. Pon'kina PhD of Technical Sciences, Associate Professor of the Department of Theoretical Cybernetics and Applied Mathematics, the Altai State University
ponkinaelena77@mail.ru

The article examines approaches to the definition of “efficiency” in the context of the main paradigms of economics and management. Main properties of the efficiency, such as: quantitative severity, relativity. Comparison of efficiency, productivity and effectiveness are given. It is shown that the modern theory and practice needs to develop a synthetic indicator of efficiency.

Keywords: efficiency, equation of efficiency, productivity, effectiveness

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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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