Economic Methodology
eBook - PDF

Economic Methodology

Understanding Economics as a Science

  1. 240 pages
  2. English
  3. PDF
  4. Available on iOS & Android
eBook - PDF

Economic Methodology

Understanding Economics as a Science

About this book

Economic Methodology explores the status and character of economics as a social science and introduces students to philosophical issues underlying modern science. Approaching the subject as philosophy of science for economists, the authors use the historical developments in philosophy of science to frame this introduction to the field of economic methodology. By doing this they strengthen students' understanding of economics as a science to enhance their reasoning skills, introducing them to the wider philosophical issues surrounding our understanding of the area.

Information

Publisher
Red Globe Press
Year
2017
Print ISBN
9781137545558
eBook ISBN
9781137545572
Edition
2
Topic
Volkswirtschaftslehre
Subtopic
Wirtschaftstheorie
76 
Economic 
Methodology
Pettifor, 
Ann 
(ed.) 
(2003) 
Real 
World 
Economic 
Outlook: 
The 
Legacy 
of 
Globalization: 
Debt 
and 
Deflation
, 
Basingstoke: 
Palgrave 
Macmillan.
Theil, 
Henri 
(1971) 
Principles 
of 
Econometrics
, 
New 
York: 
Wiley.
Suggestions 
for 
student 
participation
1. 
Compare 
your 
own 
reactions 
to 
the 
crisis 
at 
the 
time 
it 
began 
to 
be 
clear 
something 
unexpected 
and 
important 
was 
happening 
in 
the 
world 
economy.
2. 
Discuss 
the 
three 
categories 
of 
uncertainty 
Rumsfeld 
distinguishes, 
and 
suggest 
ways 
they 
can 
be 
addressed.
Questions
1. 
Why 
is 
a 
model 
just 
a 
tool? 
Why 
is 
it 
something 
different 
than 
a 
tool?
2. 
Is 
prediction 
the 
most 
important 
thing 
for 
models 
to 
achieve, 
as 
Friedman 
believed?
3. 
Do 
“bubbles” 
and 
other 
sorts 
of 
unexpected 
phenomena 
present 
spe-
cial 
problems 
to 
economics 
and 
economic 
methodology?
4. 
Economists 
as 
a 
whole 
failed 
to 
foresee 
the 
nancial 
crisis. 
Did 
atomic 
physicists 
fail 
to 
see 
the 
development 
of 
nuclear 
weapons 
in 
the 
same 
way? 
(See 
also 
Focus 
7.3.)

Table of contents

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