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Economic Methodology Information

Economic methodology is the study of methods, especially the scientific method, in relation to economics, including principles underlying economic reasoning.[1] In contemporary English, the term 'methodology' is used also to emphasize theoretical or systematic' aspects of' discussions of a method (or several methods).

Methodological issues, including similarities and contrasts to the natural sciences and to other social sciences, include:

Contents

History of economic methodology

Economic methodology has gone from periodic reflections of economists on method to a distinct research field in economics since the 1970s. In one direction, it has expanded to the boundaries of philosophy, including the relation of economics to the philosophy of science and to the theory of knowledge.[14] In the context of philosophy and economics, additional subjects are treated as well, including decision theory and moral philosophy/ethics.[15]

See also

Notes

  1. ^ :Press + button to enlarge small-text links below. • Roger E. Backhouse, 2008. "methodology of economics," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • Lawrence A. Boland, 1987. "methodology," The New Palgrave: A Dictionary of Economics, v. 3, pp. 455-56. • Daniel M. Hausman, 1989. "Economic Methodology in a Nutshell," Journal of Economic Perspectives, 3(2), pp. 115-127. • Kevin D. Hoover, 1995. "Review Article: Why Does Methodology Matter for Economics?" Economic Journal, 105(430), pp. 715-734.
  2. ^ • John Stuart Mill, 1844. "On the Definition of Political Economy; and on the Method of Investigation Proper to It", Essay V, in Essays on Some Unsettled Questions of Political Economy. • Roger E. Backhouse and Steven Medema, 2008. "economics, definition of," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • _____. 2009. "Retrospectives: On the Definition of Economics," Journal of Economic Perspectives, 23(1), pp. 221–33 (close Bookmarks tab) Abstract.
  3. ^ John Neville Keynes, 1891. The Scope and Method of Political Economy. Arrow searchable.
  4. ^ • John R. Hicks, 1939. Value and Capital: An Inquiry into Some Fundamental Principles of Economic Theory. • Terence W. Hutchison, 1938. The Significance and Basic Postulates of Economic Theory. • Paul A. Samuelson, 1947. Foundations of Economic Analysis. • Richard G. Lipsey, 2008. "positive economics." The New Palgrave Dictionary of Economics. 2nd Edition. Abstract. • Lawrence A. Boland, 2008. "instrumentalism and operationalism," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • _____, 2003. The Foundations of Economic Method, 2nd Edition. Description and scroll to chapter-preview links.
  5. ^ • Kaushik Basu, 2008. "methodological individualism," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • Harold Kincaid, 2008. "individualism versus holism," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • F.A. Hayek, 1948. Individualism and Economic Order. Scroll down to chapter-preview links. • George J. Stigler and Paul A. Samuelson, 1963. "A Dialogue on the Proper Economic Role of the State." Selected Papers, No. 7. University of Chicago Graduate School of Business. • James M. Buchanan, 1990. "The Domain of Constitutional Economics," Constitutional Political Economy, 1(1), pp. 1-18, adapted as "Constitutional Political Economy" in C. K. Rowley and F. Schneider, ed., 2004, The Encyclopedia of Public Choice, v. 2, pp. 60-67. • Kenneth J. Arrow, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, 84(2), pp. 1-9. • Richard H. Thaler and Cass R. Sunstein, 2008. Nudge: Improving Decisions about Health, Wealth, and Happiness. Yale. Description and preview.
  6. ^ • Lawrence A. Boland, 2008. "assumptions controversy," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • Shaun Hargreaves Heap, 2008. "economic man," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • Milton Friedman, 1953. "The Methodology of Positive Economics" in Essays in Positive Economics. • Paul A. Samuelson, 1963. "Problems of Methodology: Discussion," American Economic Review, 53(2) American Economic Review, pp. 231-236. Reprinted in J.C. Wood & R.N. Woods, ed., 1990, Milton Friedman: Critical Assessments, v. I, pp. 107-13. Preview. Routledge. • Stanley Wong, 1973. "The 'F-Twist' and the Methodology of Paul Samuelson," American Economic Review, 63(3) pp. 312-325. Reprinted in J.C. Wood & R.N. Woods, ed., Milton Friedman: Critical Assessments, v. II, pp. 224-43. Preview. • Kenneth J. Arrow, [1987] 1989. “Economic theory and the hypothesis of rationality," in The New Palgrave: Utility and Probability, pp. 25-39.
  7. ^ • Lionel Robbins, 1932. An Essay on the Nature and Significance of Economic Science. • Richard G. Lipsey, 2009. "Some Legacies of Robbins’ An Essay on the Nature and Significance of Economic Science," Economica, 76(302), pp. 845-56 (press + button). • Alexander Rosenberg (1983). "If Economics Isn't Science, What Is It?" Philosophical Forum, 14, pp. 296-314. Reprinted in M. Martin and L. C. McIntyre (1996), Readings in the Philosophy of Social Science, pp. 661-674. • Douglas W. Hands, 1984. "What Economics Is Not: An Economist's Response to Rosenberg," Philosophy of Science, 51(3), pp. 495-503. • Daniel M. Hausman, 1992. The Inexact and Separate Science of Economics. Description, to ch. 1 link, preview, and reviews, 1st pages: [1] [2] • George J. Stigler, 1984. "Economics—The Imperial Science?" Scandinavian Journal of Economics, 86(3), pp. 301-313. • Edward P. Lazear, 2000. "Economic Imperialism," Quarterly Journal of Economics, 115(1), pp. 99-146. • Deirdre N. McCloskey and Stephen T. Ziliak, 1996. "The Standard Error of Regressions," Journal of Economic Literature, 34(1), pp. 97–114. • Kevin D. Hoover and Mark V. Siegler, 2008. "Sound and Fury: McCloskey and Significance Testing in Economics," Journal of Economic Methodology, 15(1), pp. 1–37; McCloskey and Ziliak, "Signifying Nothing: Reply to ..." [preprint] and Hoover and Siegler, "... Rejoinder to ..., pp. 39–68.
  8. ^ • Mark Blaug, 2007. "The Social Sciences: Economics", Postwar developments, Methodological considerations in contemporary economics, The New Encyclopædia Britannica, v. 27, pp. 346-47. • Frank H. Knight, 1924. "The Limitations of Scientific Method in Economics," in The Trend of Economics, R.G. Tugwell, ed., pp. 229-67. Reprinted in Frank H. Knight, 1935 [1997], The Ethics of Competition, pp. 97- 139. • Daniel M. Hausman, 1983. "The Limits of Economic Science," in The Limits of Lawfulness: Studies on the Scope and Nature of Scientific Knowledge, N. Rescher, ed.. Reprinted in D.M. Hausman, 1992, Essays on Philosophy and Economic Methodology, pp. 99-108. • Ludwig von Mises, 1949. Human Action. • H. Wold 1954. "Causality and Econometrics," Econometrica, 22(2), pp. 162-177. • Kevin D. Hoover, 2008. "causality in economics and econometrics," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract and galley proof. • Bruce Caldwell, [1987] 2008. "positivism," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
  9. ^ • C.F. Bastable, [1925] 1987. "experimental methods in economics," i, The New Palgrave: A Dictionary of Economics, v. 2, p. 241. • Vernon L. Smith, [1987] 2008. "experimental methods in economics," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • Herman O. Wold (1969). "Econometrics as Pioneering in Nonexperimental Model Building," Econometrica, 37(3), pp. 369-381.
  10. ^ • W. Stanley Jevons, 1879. The Theory of Political Economy, 2nd ed., ch. I, "Introduction," pp. 1-29. • Paul A. Samuelson, 1952. "Economic Theory and Mathematics — An Appraisal," American Economic Review, 42(2), pp. 56-66. • D.W. Bushaw and R.W. Clower, 1957. Introduction to Mathematical Economics, pp. vii-viii and ch. 1, pp. 3-8. • Gerard Debreu, 1991. "The Mathematization of Economic Theory," American Economic Review, 81(1), pp. 1-7. • Robert W. Clower, 1994. "Economics as an Inductive Science," Southern Economic Journal, 60(4), pp. 805-814. • _____, 1995. "Axiomatics in Economics," Southern Economic Journal, 62(2), pp. 307-319. • Mark Blaug, 1998. "Disturbing Currents in Modern Economics," Challenge, 41(3), pp. 11-34. Reprint. • Kenneth J. Arrow, 1951. Social Choice and Individual Values. • Amartya K. Sen, 1970 [1984]. Collective Choice and Social Welfare ISBN 0-444-85127-5. • _____, 2008. "social choice," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
  11. ^ • William Thomson, 1999. "The Young Person's Guide to Writing Economic Theory," Journal of Economic Literature, 37(1), pp. 157-183. • _____, 2001. A Guide for the Young Economist: Writing and Speaking Effectively about Economics. Scroll to chapter-preview links. • Eric Rasmusen, 2001. "Aphorisms on Writing, Speaking, and Listening," in E. Rasmusen, ed., Readings in Games and Information, pp. 389-420. PDF. • Donald McCloskey, 1985. "Economical Writing," Economic Inquiry, 23(2), pp. 187-222. • David N. Laband and Christopher N. Taylor, 1992. "The Impact of Bad Writing in Economics," Economic Inquiry, 30(4), pp. 673-688. Abstract.
  12. ^ • D.N. McCloskey, 1983. "The Rhetoric of Economics," Journal of Economic Literature, 21(2), pp. 481-517. • _____, [1985] 1998, 2nd ed. The Rhetoric of Economics. Scroll to chapter-preview links. • Roger Backhouse, T. Dudley-Evans, and Willie Henderson, 1993. "Exploring the Language and Rhetoric of Economics," in Willie Henderson et al., Economics and Language, pp. 1-20 (preview).
  13. ^ • Wassily Leontief, 1971. "Theoretical Assumptions and Nonobserved Facts," American Economic Review, 61(1), pp. 1-7. Reprinted in W. Leontief, 1977, Essays in Economics, v. 1, ch. III, pp. 24-34. • Mark Blaug, 1992. The Methodology of Economics: Or How Economists Explain, 2nd ed. Preview. • Roger Backhouse and Mark Blaug, 1994. New Directions in Economic Methodology, Routledge. Scroll to chapter-preview links. • P.A.G. van Bergeijk et al., 1997. Economic Science and Practice: The Roles of Academic Economists and Policy-Makers. Description & preview links. • D. Wade Hands, 2001. Without Rules: Economic Methodology and Contemporary Science Theory, Oxford. Desription and scroll to page previews. • Christopher A. Sims, 1996. "Macroeconomics and Methodology," Journal of Economic Perspectives, 10(1), pp. 105-120. • Kevin D. Hoover, 2001. The Methodology of Empirical Macroeconomics, Oxford. Description and scroll to chapter-preview links.
  14. ^ • Roger E. Backhouse, 2008. "methodology of economics," The New Palgrave Dictionary of Economics, 2nd Edition, pp. 590-91. Abstract. • Lawrence A. Boland, 2006. "Seven Decades of Economic Methodology: A Popperian Perspective," in Karl Popper: A Centenary Assessment, v. 3, ed. Ian Charles Jarvie et al., pp. 219-227. • Uskali Mäki, 2008. "scientific realism and ontology," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • Vivian Walsh, 1987. "models and theory," The New Palgrave: A Dictionary of Economics, v. 3, pp. 482-83., 1987.
  15. ^ • D. Wade Hands, 2008. "philosophy and economics," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. • Vivian Walsh, 1987. "philosophy and economics," The New Palgrave: A Dictionary of Economics, v. 2, pp. 861-69. • D.M. Hausman, 2001. "Economics: Philosophy of," International Encyclopedia of the Social & Behavioral Sciences, v. 6, pp. 4159-65. Abstract.

References

External links

Categories: Economic methodology | Relation of economics to other disciplines

 

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