Economy that relates with economics of all the countries of the world. It is all of national economics. World-wide economic activity between various countries that are considered intertwined and thus can affect other countries negatively or positively. A key concept in the global economy is globalization, which is the process that leads to individual economies around the world being closely interwoven such that an event in one country is bound to affect the state of other world economies. The impact factor of journal provides quantitative assessment tool for grading, evaluating, sorting and comparing journals of similar kind. It reflects the average number of citations to recent articles published in science and social science journals in a particular year or period, and is frequently used as a proxy for the relative importance of a journal within its field. It is first devised by Eugene Garfield, the founder of the Institute for Scientific Information. The impact factor of a journal is evaluated by dividing the number of current year citations to the source items published in that journal during the previous two years.
Last date updated on July, 2014