Embedded Files
--ECONOMIC METHODOLOGY--
--ECONOMIC METHODOLOGY--
--THE ROLE OF POSITIVE ECONOMICS--
--THE ROLE OF POSITIVE ECONOMICS--
--THE ROLE OF POSITIVE ECONOMICS--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--THE USE OF LOGIC--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--THE USE OF HYPOTHESES, MODELS, THEORIES...--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--THE CETERIS PARIBUS ASSUMPTION--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--THE USE OF EMPIRICAL EVIDENCE--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--REFUTATION--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--THE ROLE OF NORMATIVE ECONOMICS--
--THE ROLE OF NORMATIVE ECONOMICS--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--THE ROLE OF NORMATIVE ECONOMICS--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--VALUE JUDGEMENTS IN POLICY MAKING--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
Prepare a PPT presentation on how the following are connected to Friedman’s narrative:
Use of logic
Use of hypothesis
The ceteris paribus assumption
Empirical evidence
Refutation.
--THE MEANING OF EQUITY & EQUALITY--
Economic methodology
• The role of positive economics
• The use of logic
• The use of hypotheses, models, theories
• The ceteris paribus assumption
• Empirical evidence
• Refutation
• The role of normative economics
• Value judgments in policy making
• The meaning of equity and equality
-WHAT IS THE ROLE OF POSITIVE ECONOMICS? LINK1 SCIENTIFIC METHOD 1, THE SCIENTIFIC METHOD 2
-WHAT IS THE ROLE OF NORMATIVE ECONOMICS?
--ECONOMIC THOUGHT--
--ECONOMIC THOUGHT--
--ORIGIN OF ECONOMIC IDEAS--
--ORIGIN OF ECONOMIC IDEAS--
--18th CENTURY--
Economic thought
• Origin of economic ideas in a historical context
• 18th century: Adam Smith and laissez faire
• 19th century: classical microeconomics (utility); the concept of the margin; Classical macroeconomics (Say’s law); Marxist critique of classical economic thought
• 20th century: Keynesian revolution; rise of macroeconomic policy; monetarist/new classical counter revolution
• 21st century: increasing dialogue with other disciplines such as psychology and the growing role of behavioural economics; increasing awareness of the interdependencies that exist between the economy, society and environment and the need to appreciate the compelling reasons for moving toward a circular economy
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE EIGHTEENTH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE NINETEENTH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE TWENTIETH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE TWENTY-FIRST CENTURY?
TASK: RESEARCH A FAMOUS ECONOMIST/ ECONOIMIC-THINKER ETC... FROM YOUR COUNTRY AND CREATE A POSTER FOR DISPLAY. INCLUDE THEIR SURNAME AND CONTRIBUTION.
--19th CENTURY--
Economic thought
• Origin of economic ideas in a historical context
• 18th century: Adam Smith and laissez faire
• 19th century: classical microeconomics (utility); the concept of the margin; Classical macroeconomics (Say’s law); Marxist critique of classical economic thought
• 20th century: Keynesian revolution; rise of macroeconomic policy; monetarist/new classical counter revolution
• 21st century: increasing dialogue with other disciplines such as psychology and the growing role of behavioural economics; increasing awareness of the interdependencies that exist between the economy, society and environment and the need to appreciate the compelling reasons for moving toward a circular economy
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE EIGHTEENTH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE NINETEENTH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE TWENTIETH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE TWENTY-FIRST CENTURY?
TASK: RESEARCH A FAMOUS ECONOMIST/ ECONOIMIC-THINKER ETC... FROM YOUR COUNTRY AND CREATE A POSTER FOR DISPLAY. INCLUDE THEIR SURNAME AND CONTRIBUTION.
--20th CENTURY--
Economic thought
• Origin of economic ideas in a historical context
• 18th century: Adam Smith and laissez faire
• 19th century: classical microeconomics (utility); the concept of the margin; Classical macroeconomics (Say’s law); Marxist critique of classical economic thought
• 20th century: Keynesian revolution; rise of macroeconomic policy; monetarist/new classical counter revolution
• 21st century: increasing dialogue with other disciplines such as psychology and the growing role of behavioural economics; increasing awareness of the interdependencies that exist between the economy, society and environment and the need to appreciate the compelling reasons for moving toward a circular economy
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE EIGHTEENTH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE NINETEENTH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE TWENTIETH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE TWENTY-FIRST CENTURY?
TASK: RESEARCH A FAMOUS ECONOMIST/ ECONOIMIC-THINKER ETC... FROM YOUR COUNTRY AND CREATE A POSTER FOR DISPLAY. INCLUDE THEIR SURNAME AND CONTRIBUTION.
--21st CENTURY--
Economic thought
• Origin of economic ideas in a historical context
• 18th century: Adam Smith and laissez faire
• 19th century: classical microeconomics (utility); the concept of the margin; Classical macroeconomics (Say’s law); Marxist critique of classical economic thought
• 20th century: Keynesian revolution; rise of macroeconomic policy; monetarist/new classical counter revolution
• 21st century: increasing dialogue with other disciplines such as psychology and the growing role of behavioural economics; increasing awareness of the interdependencies that exist between the economy, society and environment and the need to appreciate the compelling reasons for moving toward a circular economy
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE EIGHTEENTH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE NINETEENTH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE TWENTIETH CENTURY?
-WHAT WERE THE MAJOR ECONOMIC IDEAS OF THE TWENTY-FIRST CENTURY?
TASK: RESEARCH A FAMOUS ECONOMIST/ ECONOIMIC-THINKER ETC... FROM YOUR COUNTRY AND CREATE A POSTER FOR DISPLAY. INCLUDE THEIR SURNAME AND CONTRIBUTION.
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