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№1 слайд![The Scientific Method and](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img0.jpg)
Содержание слайда: The Scientific Method and Economics
Phillip Tussing
№2 слайд![Traditional Scientific Method](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img1.jpg)
Содержание слайда: Traditional Scientific Method
But it doesn’t describe reality of how science works
№3 слайд![Science Flowchart This is](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img2.jpg)
Содержание слайда: Science Flowchart
This is more realistic
№4 слайд![The Cultural Side The](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img3.jpg)
Содержание слайда: The Cultural Side
The scientific community and the educational institution can rightly be considered ‘subcultures’ each with its own set of material and nonmaterial components. Scientists, including social scientists, share a set of beliefs, values, and norms and employ various material items that form the toolkits of both the natural and social sciences.
№5 слайд![Emic vs Etic As it turns out,](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img4.jpg)
Содержание слайда: Emic vs Etic
As it turns out, this distinction in the point of view of the analyst, which originated in anthropology, is important in economics as well
№6 слайд![Philosophy of Science Karl](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img5.jpg)
Содержание слайда: Philosophy of Science:
Karl Popper, 1902-1994
Falsification: a theory is scientific when it is capable of being proven false by reproducible evidence
№7 слайд![Philosophy of Science Thomas](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img6.jpg)
Содержание слайда: Philosophy of Science:
Thomas Kuhn, 1922-1996
Paradigm Shift: science is a set of methods of discovery and understanding; periodically those methods go through a revolution and new methods become standard.
№8 слайд![Economics Paradigms](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img7.jpg)
Содержание слайда: Economics Paradigms 1: Mainstream US & UK
-Classical Economics: Adam Smith to Alfred Marshall. Focus on Microeconomics, the long term, free markets
-Keynesian Economics: John Maynard Keynes to John Kenneth Galbraith. Focus on Macroeconomics and the government’s ability to manage the economy
№9 слайд![Econ Paradigms Socialism](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img8.jpg)
Содержание слайда: Econ Paradigms 2: Socialism
Marxist: revolution by the working class displaces capitalists, so that workers own the means of production
№10 слайд![Economics Paradigms](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img9.jpg)
Содержание слайда: Economics Paradigms 3
-Monetarism: Milton Friedman. Focus on the ability of the Central Bank to mange the economy; de-emphasize fiscal policy
-Austrian School: Friedrich Hayek, Ludwig von Mises. Built around the ideas of free markets, minimal govt intervention, anti-socialism
№11 слайд![Economics Paradigms](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img10.jpg)
Содержание слайда: Economics Paradigms 4: Libertarianism
-“Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned.”
-Ayn Rand
№12 слайд![Evidence-Based MOST IMPORTANT](/documents_6/798ab4d14ffe0d4700654dbedd15cd95/img11.jpg)
Содержание слайда: Evidence-Based
MOST IMPORTANT TAKE-AWAY:
In all this, Science involves collecting and assessing information; it DOES NOT MEAN YOUR OPINION!!!