Description

Book Synopsis
Is economics a science? What distinguishes it from other sciences, both natural and social? Does it have a distinctive method? Can its models of perfect rationality and perfect competition help us to understand real market economies and to help them to function better? This book offers answers to these questions and more.

Table of Contents
Part I. Introduction: Content, Structure and Strategy of Mainstream Economics: 1. Rationality, preferences and utility theory; 2. Demand and consumer choice; 3. Theory of the firm and general equilibrium; 4. Equilibrium theory and normative economics; 5. Equilibrium theory and macroeconomic models; 6. Models and theories in economics; 7. The structure and strategy of economics; 8. Overlapping generations: a case study; Part II. Theory Assessment: 9. Inexactness in economic theory; 10. Mill's deductive method and the assessment of economic hypotheses; 11. Methodological revolution; 12. Karl Popper, Imre Lakatos: Falsificationism and research programs; 13. The inexact deductive method; 14. Casting off dogmatism: the case of preference reversals; Part III. Conclusion: 15. Economic methodology; 16. Conclusions.

The Inexact and Separate Science of Economics

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    A Paperback by Daniel M. Hausman

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      Publisher: Cambridge University Press
      Publication Date: 6/8/2023 12:00:00 AM
      ISBN13: 9781009320276, 978-1009320276
      ISBN10: 1009320270
      Also in:
      Social and political philosophy

      Description

      Book Synopsis
      Is economics a science? What distinguishes it from other sciences, both natural and social? Does it have a distinctive method? Can its models of perfect rationality and perfect competition help us to understand real market economies and to help them to function better? This book offers answers to these questions and more.

      Table of Contents
      Part I. Introduction: Content, Structure and Strategy of Mainstream Economics: 1. Rationality, preferences and utility theory; 2. Demand and consumer choice; 3. Theory of the firm and general equilibrium; 4. Equilibrium theory and normative economics; 5. Equilibrium theory and macroeconomic models; 6. Models and theories in economics; 7. The structure and strategy of economics; 8. Overlapping generations: a case study; Part II. Theory Assessment: 9. Inexactness in economic theory; 10. Mill's deductive method and the assessment of economic hypotheses; 11. Methodological revolution; 12. Karl Popper, Imre Lakatos: Falsificationism and research programs; 13. The inexact deductive method; 14. Casting off dogmatism: the case of preference reversals; Part III. Conclusion: 15. Economic methodology; 16. Conclusions.

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