The Inexact and Separate Science of Economics

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Daniel M. Hausman

About this Item Some wear along the edges, tips, and spine of the book. Some rubbing wear to covers. Book may contain some residual odor from prior storage.

Bookseller Inventory Ask Seller a Question. About this title Synopsis: This book offers a comprehensive introduction to the fundamentals of standard economics, to the strategies economists employ in applying their theories to solve particular problems, and to the ways in which economists assess their theories.

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If you have any questions or problems, please do not hesitate to contact us. With its lengthy appendix introducing relevant issues in philosophy of science, this book is a major addition to philosophy of economics and of social science. Table of contents List of figures; Introduction; Part I.

Introduction, Structure and Strategy: 1. Rationality and utility theory; 2. Demand and consumer choice; 3. The theory of the firm and general equilibrium; 4. Equilibrium theory and economic welfare; 5. Models and theories in economics; 6.

Table of Contents

The structure and strategy of economics; 7. Overlapping generations: a case study; Part II. Theory Assessment: 8.

Book Metrics

Inexactness in economic theory; 9. Methodological revolution; Karl Popper and falsificationism in economics; Imre Lakatos and economic methodology; Economics as an inexact and separate science; On dogmatism in economics: the case of preference reversals; Part III.

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Product | Inexact and Separate Science of Economics

Conclusion: Economic methodology; 15 Conclusions; Appendix: an introduction to philosophy of science; Bibliography; Index. Review quote "Overall, this book is well written, cogently argued, and extremely thought provoking. Hausman has a thorough grasp of both the important philosophical literature and the important economic literature.

And the book contains an excellent short appendix discussing the major issues in the philosophy of science. This book offers a clear and perceptive discussion of the methodology of economics which maintains a delicate balance between the detailed discussion of the practice of economic analysis, the general debates within the philosophy of science, the history of economic method, the debate between allternative methodological schools, and the proposal of methodological reform.

Indeed, the skill with which these various themes are handled and integrated, and the many detailed arguments deployed, makes this book extremely valuable as a self-contained text for an advanced undergraduate course in economic methodology, but no less interesting for the more experienced student of methodology, or the practising economist. Its criticisms of the discipline are not to be lightly dismissed. It is definitely recommended reading for academic economists and advanced graduate students.