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Part ⅠIntroduction
1.2 Thinking Like an
Economist
本PPT内容编制依据曼昆著“经济学原理”(第七版),并有
部分图表资料来源于Cengage Learning提供的教辅材料。
The Economist as a Scientist
• Economics
– The jewel on the crown of social sciences
(Gang Fan)
– A social science
– A science
• Economists
– (Social) Scientists
• Theories data verify or refute theories
The Economist as a Scientist
• Methodology
– Value neutrality: developing and testing of
theories about how the world works
– Observations theories more observations
• A comment
– Since economics is a social science (on how people
interact), it is difficult to keep value neutrality (for
researchers)
– The usefulness of economic theories usually
depends on specific models of social interactions
(structures or relationships)
The Economist as a Scientist
• Testing an economic theory
– Social experiments: usually impractical
– Laboratory experiments: A substitute
– Verify econometrically or statistically the
implication(s) of a theory via data analysis
The Economist as a Scientist
• Models with assumptions
– Assumptions
• To simplify the complex world (with many details)
for analytic traceability
• But need to capture the nature of the world
• Assumptions are made for questions
– Models
• Built with assumptions (for omitting some
unimportant details)
• Describe how the “world” works (to capture the
truly important aspects)
• For purpose to understand the “world” in question
The Economist as a Scientist
• A Market Model (The circular flow)
• Actors
– Households
• Owen factors
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