Economics and Science of Measurement: A Study of Metrology

The study of measurement science is known as metrology, and this book is the first systematic study of measurement activity at the U.S. National Institute of Standards and Technology (NIST). It emphasizes the economic importance of measurement as a tool for sustaining technological advancement and offers an overview of the benefits and consequences of measurement standards, an argument for public sector support, a historical perspective, and a roadmap for future research.

Format: Hardback
Length: 80 pages
Publication date: 09 July 2021
Publisher: Taylor & Francis Ltd

Metrology, a captivating field of study, delves into the intricate realm of measurement science. While classical economists have rightly emphasized the significance of measurement itself, the majority of economics-based writings on this topic have taken the form of government reports focused on the activities of specific national metrology laboratories. This groundbreaking book stands as the first systematic exploration of measurement activity within a national metrology laboratory, specifically focusing on the U.S. National Institute of Standards and Technology (NIST) within the U.S. Department of Commerce.

The primary objective of this remarkable work is to shed light on the economic importance of measurement, not only as a field of study but also as a vital tool for propelling technological advancement as an integral component of economic growth. To achieve this, the book provides a comprehensive overview of the economic benefits and ramifications of measurement standards. It makes a compelling case for public sector support of measurement standards, offering a historical perspective of NIST's measurement activities. Furthermore, an empirical analysis of a specific measurement activity, calibration testing, is conducted, providing valuable insights. Additionally, a roadmap for future research on the economics of metrology is laid out, paving the way for further exploration and understanding of this critical domain.

In summary, this book is a groundbreaking contribution to the field of metrology, offering a comprehensive and insightful examination of the economic significance of measurement. It serves as a valuable resource for academicians, policymakers, and anyone interested in understanding the role of measurement in driving technological progress and fostering economic growth.

Weight: 240g
Dimension: 142 x 222 x 13 (mm)
ISBN-13: 9781032014401