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How Economists Model The World Into Numbers
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Book Synopsis How Economists Model the World Into Numbers by : Marcel Boumans
Download or read book How Economists Model the World Into Numbers written by Marcel Boumans and published by Psychology Press. This book was released on 2005 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics is dominated by model building, therefore a comprehension of how such models work is vital to understanding the discipline. This book provides a critical analysis of the economist's favourite tool, and as such will be an enlightening read for some, and an intriguing one for others.
Book Synopsis How Economists Model the World into Numbers by : Marcel Boumans
Download or read book How Economists Model the World into Numbers written by Marcel Boumans and published by Routledge. This book was released on 2004-12-17 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics is dominated by model building, therefore a comprehension of how such models work is vital to understanding the discipline. This book provides a critical analysis of the economist's favourite tool, and as such will be an enlightening read for some, and an intriguing one for others.
Book Synopsis How Economists Model the World Into Numbers by : Marcel Boumans
Download or read book How Economists Model the World Into Numbers written by Marcel Boumans and published by Routledge. This book was released on 2004-12-17 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics is dominated by model building, therefore a comprehension of how such models work is vital to understanding the discipline. This book provides a critical analysis of the economist's favourite tool, and as such will be an enlightening read for some, and an intriguing one for others.
Book Synopsis The World in the Model by : Mary S. Morgan
Download or read book The World in the Model written by Mary S. Morgan and published by Cambridge University Press. This book was released on 2012-09-17 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last two centuries, the way economic science is done has changed radically: it has become a social science based on mathematical models in place of words. This book describes and analyses that change - both historically and philosophically - using a series of case studies to illuminate the nature and the implications of these changes. It is not a technical book; it is written for the intelligent person who wants to understand how economics works from the inside out. This book will be of interest to economists and science studies scholars (historians, sociologists and philosophers of science). But it also aims at a wider readership in the public intellectual sphere, building on the current interest in all things economic and on the recent failure of the so-called economic model, which has shaped our beliefs and the world we live in.
Book Synopsis The Economist's View of the World by : Steven E. Rhoads
Download or read book The Economist's View of the World written by Steven E. Rhoads and published by Cambridge University Press. This book was released on 1985-05-23 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains and assesses the ways in which micro, welfare and benefit-cost economists view the world of public policy. In general terms, microeconomic concepts and models can be seen to appear regularly in the work of political scientists, sociologists and psychologists. As a consequence, these and related concepts and models have now had sufficient time to influence strongly and to extend the range of policy options available to government departments. The central focus of this book is the 'cross-over' from economic modelling to policy implementation, which remains obscure and uncertain. The author outlines the importance of a wider knowledge of microeconomics for improving the effects and orientation of public policy. He also provides a critique of some basic economic assumptions, notably the 'consumer sovereignty principle'. Within this context the reader is in a better position to understand the 'marvellous insights and troubling blindnesses' of economists where often what is controversial politically is not so controversial among economists.
Book Synopsis Measurement in Economics by : Marcel Boumans
Download or read book Measurement in Economics written by Marcel Boumans and published by Elsevier. This book was released on 2007-08-17 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Measurement in Economics: A Handbook" aims to serve as a source, reference, and teaching supplement for quantitative empirical economics, inside and outside the laboratory. Covering an extensive range of fields in economics: econometrics, actuarial science, experimental economics, index theory, national accounts, and economic forecasting, it is the first book that takes measurement in economics as its central focus. It shows how different and sometimes distinct fields share the same kind of measurement problems and so how the treatment of these problems in one field can function as a guidance in other fields. This volume provides comprehensive and up-to-date surveys of recent developments in economic measurement, written at a level intended for professional use by economists, econometricians, statisticians and social scientists. It employs an integrative approach of measurement in economics. It contains multi-disciplinary chapters and up-to-date survey of measurement literature in economics and econometrics.
Book Synopsis Economic Methodology by : Harro Maas
Download or read book Economic Methodology written by Harro Maas and published by Routledge. This book was released on 2014-03-05 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ever since the inception of economics over two hundred years ago, the tools at the discipline’s disposal have grown more and more more sophisticated. This book provides a historical introduction to the methodology of economics through the eyes of economists. The story begins with John Stuart Mill's seminal essay from 1836 on the definition and method of political economy, which is then followed by an examination of how the actual practices of economists changed over time to such an extent that they not only altered their methods of enquiry, but also their self-perception as economists. Beginning as intellectuals and journalists operating to a large extent in the public sphere, they then transformed into experts who developed their tools of research increasingly behind the scenes. No longer did they try to influence policy agendas through public discourse; rather they targeted policymakers directly and with instruments that showed them as independent and objective policy advisors, the tools of the trade changing all the while. In order to shed light on this evolution of economic methodology, this book takes carefully selected snapshots from the discipline’s history. It tracks the process of development through the nineteenth and twentieth centuries, analysing the growth of empirical and mathematical modelling. It also looks at the emergence of the experiment in economics, in addition to the similarities and differences between modelling and experimentation. This book will be relevant reading for students and academics in the fields of economic methodology, history of economics, and history and philosophy of the social sciences.
Book Synopsis Cents and Sensibility by : Gary Saul Morson
Download or read book Cents and Sensibility written by Gary Saul Morson and published by Princeton University Press. This book was released on 2018-09-25 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Cents and Sensibility, an eminent literary critic and a leading economist make the case that the humanities—especially the study of literature—offer economists ways to make their models more realistic, their predictions more accurate, and their policies more effective and just. Arguing that Adam Smith’s heirs include Austen, Chekhov, and Tolstoy as much as Keynes and Friedman, Gary Saul Morson and Morton Schapiro trace the connection between Adam Smith’s great classic, The Wealth of Nations, and his less celebrated book on ethics, The Theory of Moral Sentiments. The authors contend that a few decades later, Jane Austen invented her groundbreaking method of novelistic narration in order to give life to the empathy that Smith believed essential to humanity. More than anyone, the great writers can offer economists something they need—a richer appreciation of behavior, ethics, culture, and narrative. Original, provocative, and inspiring, Cents and Sensibility demonstrates the benefits of a dialogue between economics and the humanities and also shows how looking at real-world problems can revitalize the study of literature itself. Featuring a new preface, this book brings economics back to its place in the human conversation.
Book Synopsis Theoretical and Practical Reason in Economics by : Ricardo F. Crespo
Download or read book Theoretical and Practical Reason in Economics written by Ricardo F. Crespo and published by Springer Science & Business Media. This book was released on 2012-09-25 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the book is to argue for the restoration of theoretical and practical reason to economics. It presents Nancy Cartwright and Amartya Sen’s ideas as cases of this restoration and sees Aristotle as an influence on their thought. It looks at how we can use these ideas to develop a valuable understanding of practical reason for solving concrete problems in science and society. Cartwright’s capacities are real causes of events. Sen’s capabilities are the human person’s freedoms or possibilities. They relate these concepts to Aristotelian concepts. This suggests that these concepts can be combined. Sen’s capabilities are Cartwright’s capacities in the human realm; capabilities are real causes of events in economic life. Institutions allow us to deliberate on and guide our decisions about capabilities, through the use of practical reason. Institutions thus embody practical reason and infuse certain predictability into economic action. The book presents a case study: the UNDP’s HDI.
Book Synopsis Do Economists Make Markets? by : Donald MacKenzie
Download or read book Do Economists Make Markets? written by Donald MacKenzie and published by Princeton University Press. This book was released on 2020-06-30 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Around the globe, economists affect markets by saying what markets are doing, what they should do, and what they will do. Increasingly, experimental economists are even designing real-world markets. But, despite these facts, economists are still largely thought of as scientists who merely observe markets from the outside, like astronomers look at the stars. Do Economists Make Markets? boldly challenges this view. It is the first book dedicated to the controversial question of whether economics is performative--of whether, in some cases, economics actually produces the phenomena it analyzes. The book's case studies--including financial derivatives markets, telecommunications-frequency auctions, and individual transferable quotas in fisheries--give substance to the notion of the performativity of economics in an accessible, nontechnical way. Some chapters defend the notion; others attack it vigorously. The book ends with an extended chapter in which Michel Callon, the idea's main formulator, reflects upon the debate and asks what it means to say economics is performative. The book's insights and strong claims about the ways economics is entangled with the markets it studies should interest--and provoke--economic sociologists, economists, and other social scientists. In addition to the editors and Callon, the contributors include Marie-France Garcia-Parpet, Francesco Guala, Emmanuel Didier, Philip Mirowski, Edward Nik-Khah, Petter Holm, Vincent-Antonin Lépinay, and Timothy Mitchell.
Book Synopsis The Invisible Hand in Economics by : N. Emrah Aydinonat
Download or read book The Invisible Hand in Economics written by N. Emrah Aydinonat and published by Routledge. This book was released on 2008 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1 Introduction -- chapter 2 Unintended consequences -- chapter 3 The origin of money -- chapter 4 Segregation -- chapter 5 The invisible hand -- chapter 6 The origin of money reconsidered -- chapter 7 Models and representation -- chapter 8 Game theory and conventions -- chapter 9 Concluding remarks.
Book Synopsis Error in Economics by : Julian Reiss
Download or read book Error in Economics written by Julian Reiss and published by Routledge. This book was released on 2016-02-04 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the correct concept behind measures of inflation? Does money cause business activity or is it the other way around? Shall we stimulate growth by raising aggregate demand or rather by lowering taxes and thereby providing incentives to produce? Policy-relevant questions such as these are of immediate and obvious importance to the welfare of societies. The standard approach in dealing with them is to build a model, based on economic theory, answer the question for the model world and then apply the results to economic phenomena outside. Data come in, if at all, only in testing a limited number of the model's consequences. Despite some critical voices, economic methodology too has by and large subscribed to a "theory first" approach to applied economics. Error in Economics systematically develops an alternative to the theory-based orthodoxy. It places the methodical study of evidence at the centre of the scientific enterprise and thus provides a foundation for a methodology of evidence-based economics. But the book does not stop at the truism that claims should be based on the best available evidence. Rather, detailed studies in the areas of measurement, causal inference and policy analysis show what it means for a claim to be evidence-based in the context of a concrete case. The examples discussed concern topics as diverse as consumer price indices, radio spectrum auctions, the transmission mechanism, natural experiments on minimum wages and the evaluation of counterfactuals for policy. Error in Economics is essential reading for economic methodologists, philosophers of science and anyone interested in how claims about socio-economic matters are validated.
Book Synopsis Economics and Ageing by : José Luis Iparraguirre
Download or read book Economics and Ageing written by José Luis Iparraguirre and published by Springer. This book was released on 2018-12-11 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: This upper level textbook provides a coherent introduction to the economic implications of individual and population ageing. Placing economic considerations into a wider social sciences context, this is ideal reading not only for advanced undergraduate and masters students in economics, health economics and the economics of ageing, but also policy makers, students, professionals and practitioners in gerontology, sociology, health-related sciences and social care. This volume introduces the different conceptualisations of age and definitions of `old age', as well as the main theories of individual ageing as developed in the disciplines of biology, psychology and sociology. It covers the economic theories of fertility, mortality and migration and describes the four main frameworks that can be used to study economics and ageing, namely the life cycle, the overlapping generations, the perpetual youth and the dynastic models.
Book Synopsis Handbook of Research Methods and Applications in Heterodox Economics by : The Late Frederic S. Lee
Download or read book Handbook of Research Methods and Applications in Heterodox Economics written by The Late Frederic S. Lee and published by Edward Elgar Publishing. This book was released on 2016-04-29 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the important methodological critiques of the mainstream offered by heterodox economics, the dominant research method taught in heterodox programmes remains econometrics. This compelling Handbook provides a comprehensive introduction to a range of alternative research methods, invaluable for analysing the data prominent in heterodox studies. Providing a solid basis for a mixed methods approach to economic investigations, the expertly crafted contributions are split into three distinct sections: philosophical foundation and research strategy, research methods and data collection, and applications. Introductions to a host of invaluable methods such as survey, historical, ethnographic, experimental and mixed approaches, together with factor, cluster, complex and social network analytics, are complemented by descriptions of applications in practice. Practical and expansive, this Handbook is highly pertinent for students and scholars of economics, particularly those dedicated to heterodox approaches, as it provides a solid reference for mixed methods not available in mainstream economics research methods courses.
Book Synopsis Reassessing the Paradigm of Economics by : Valeria Mosini
Download or read book Reassessing the Paradigm of Economics written by Valeria Mosini and published by Routledge. This book was released on 2011-07-28 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: When President Reagan and Prime Minister Thatcher adopted the neoliberal doctrine as the paradigm of economics, there was no evidence that the move would have been successful, but thirty years on, the recurrent crises that culminated in 2008 suggest a serious mis-match between expectations and outcomes: a re-examination of the paradigm is in order. This book focuses on Milton Friedman’s formulation of the neoliberal doctrine, and analyses two aspects that were essential to turning it into a fully-fledged paradigm: the attribution of scientific status to positive economics, which led to informing public policies on the requirements of the market; and the characterisation of economic freedom as capable of promoting political freedom, which led to identifying free market with democracy. The book exposes Friedman’s methodological argument for attributing positive economics scientific status as a failure, and his characterisation of economic freedom as a delusion; it identifies in the emergence as the mainstream in economics of the neoclassical synthesis, which borrowed from Walras’ the mathematical treatment of equilibrium but not the ethical and social framework in which it was inscribed, a development that facilitated the transition from the Keynesian to the neoliberal paradigm. Dr. Mosini shows that the gigantic bail-outs carried out courtesy of the public purse, which institutionalised the practice of collectivising losses while keeping profits private, were no accident, but the consequence of the rethinking of the function of lender of last resort according to Friedman’s conception of rationality in relation to risk, combined with his interpretation of the 1930s recession. The book concludes that the neoliberal paradigm has served the interests of the economically powerful social strata it was designed to benefit extremely well, but that the deep, and deepening, injustice it has brought about calls for a complete rethinking of the paradigm of economics according to ethical principles respectful of human values. This book should be of interest to students and researchers of Political Economy, Economic Methodology, History of Economic Thought and Philosophy.
Book Synopsis Philosophical Problems of Behavioural Economics by : Stefan Heidl
Download or read book Philosophical Problems of Behavioural Economics written by Stefan Heidl and published by Routledge. This book was released on 2016-05-05 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goal of behavioural economics is to improve the explanatory and predictive power of economics. This can be achieved by using theoretical and methodological resources of psychology. Its fundamental idea is that the relationship between psychology and economics cannot be subsumed under standard philosophical accounts of intertheoretical relations. Philosophical Problems of Behavioural Economics argues that behavioural economics is best understood as an attempt to deidealize economic theory guided by psychological research. Behavioural economics deconstructs the model of decision-making by adding different elements. Based on this understanding behavioural economics has a number of tasks: first, it has to identify which economic theory needs to be challenged; second it aims to identify factors which need to be modelled within economic theories of choice and modify the theory accordingly; and finally, it has to create models that explain economic phenomena based on the new theory. This book analyses the different stages of this deconstruction process and shows how the scientific disciplines of economics and psychology are connected by it. This volume develops a new account of intertheoretical relations based on the idea of deidealization and thus contributes to debates within the philosophy of social science. It is suitable for those who are interested in or study economic theory and philosophy, economic psychology and philosophy of social science.
Book Synopsis The World in the Model by : Mary S. Morgan
Download or read book The World in the Model written by Mary S. Morgan and published by Cambridge University Press. This book was released on 2012-09-17 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the radical shift in the study of economic science; where arguing with words was replaced by reasoning with mathematical models.
