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Communaute Economique de L'Afrique de I'Ouest (FO)<br />A CUSTOMS UNION with joint sectoral policies created in 1974 and consisting of the Ivory Coast, Mali, Mauritania, Niger, Senegal and Upper Volta as members.
<strong>LOA</strong> – Leave of Absence, an approved break in enrollment, not including a regularly scheduled semester break or spring break, that is requested by the student and approved by the school. The student' s request must be in writing and must include the reason for the leave. An LOA cannot exceed 180 days in any 12-month period.
research and development (03)<br />The activity of inventing new processes and products and applying them in industry, especially those which are science based and dependent for their survival and long-term growth on imaginative change. The study of this is often termed 'the economics of science'. Globally, much of R&D is concentrated in the USA because of large space and defence expenditures contracted out by federal agencies to private corporations and universities. Since 1890 larger industrial corporations, e.g. in the electrical industry, have conducted research in their own laboratories. Research based in Europe is on a much smaller scale, although many schemes have been introduced to increase Europe's R&D activity. In the EUROPEAN COMMUNITY, to encourage R&D reciprocal arrangements are negotiated with the USA: these aim to open public purchasing to European co-operation; joint ventures are established and national government research grants are refused to non-European high-technology companies in competition with European enterprises.<br /><em>Reference</em><br />HMSO (annual) Annual Review of Government Funded Research and Development, London.<br /> Rosenberg, N. (ed.) (1971) The Economics of Technological Change: Selected Readings, Harmondsworth: Penguin.
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