- This + 400k other summaries
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding

A snapshot of the summary - Economic Methodology
-
1 Logical positivism
This is a preview. There are 25 more flashcards available for chapter 1
Show more cards here -
What is the philosophy of science?Investigates the nature of assumptions, types of reasoning and forms of explanation used in sciences
-
What is economic methodology?Same as
philosophy ofscience , only applied toeconomic science Examines the basis of the explanations given by economists and answers questions about the economy. -
What are the two different approaches to economic methodology?1. Descriptive
2. Prescriptive -
What is the
descriptive approach ? (Positive methodology)Areintended todescribe thedifferent types ofeconomic research practices and their results.
(Positive methodology ,dealing with facts andraising the question of how science ispracticed in the real world) -
What is the prescriptive approach? (Normative methodology)Rules distinguishes between good and bad explanations in the economy and examine the qualtiy of the formulated explanations.
--> Good explanation: survived severe testing. (standards)
- Rules on how certain thing should be done and how claims should be formulated.
Normative methodology: how science should be practiced. -
What is
logical positivism ? (Received view of science)Science only involves analytic and synthetic a posteriori propositions (not synthetic a priori)
Version ofempiricism orginated from theVienna Circle .First key document: Scientific view - Vienna Circle : all scientific languages, including mathematics, is an extention of logic.
Logicism = empiricism: people learn from their experiences (knowledge by experience)
Positivism -
What is the Vienna Circle?Vienna Circle: program that sought to purify all metaphysic sciences and regared only analytic/ synthetic a posteriori proposition as scientific logic.
-
What were the three purposes of logical positivism?
Main purpose of logical-positivist program:- Delineate scientific knowledge
- Distinguish science from non scientific/pseudo science
- Remove any form of metaphysical or imaginary content from scientific knowledge.
-
What is the Demarcation rule? (Demarcation criterion)From the logical positivists program: was to accept only analystic/synthetic a posteriori statements or statements based on scientific knowledge.
-
What are analytic propositions?
Analytic propositions :tautological , which means that they are true by definition and they aremathematically andlogically valid .
vb: Allbachelors areunmarried
1+1=2
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding