ISSN 1829-4618


By: Yuri Suvaryan, Member of Academy, NAS RA
Academician-Secretary of the Department
of Armenology and Social Sciences
Vardan Sargsyan, Armenian State University of Economics

The efficiency of economic activity can be assessed by comparing the results and costs involved. However, there are always problems and cost estimates for methodological issues, as costs are not homogeneous (current and long-term expenditures, livelihood and material costs), and the results are also varied (including social orientation) and are often difficult to measure. The experimental method commonly used is often used in the absence of information or incompleteness of the information. The greater accuracy can be achieved by using the methods based on mathematical statistics tools techniques.
According to this approach, the cumulative correlation coefficients between the X indicators and the GDP or the individual general economic indices are calculated. The latter will evaluate the significance of the X values based on which the coefficients will be calculated. Elasticity coefficients can also be taken as the basis. The coefficients can be determined by the correlation coefficient or the ratio of elasticity coefficients.
The methodologically described principles are applicable to evaluating the quality of public administration and management of organizations. For the micro level, there will be some adjustments in the indicators.

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