The Ethical Economics
Study Center

MICROECONOMICS PRINCIPLES WITH ETHICS

 

MODULE 2: Models - The Economic Method

Textbook Reading:

Presentation Slides:

 

Additional Useful Information:

What Are Economic Models?
A Back to Basics brief by Sam Ouliaris at the IMF.

Model Building in Economics
A Textbook Commentary from the World Economics Association.

Comments on Economic Models, Economics and Economists
Comments about Dani Rodrick's Economics Rules, by Ariel Rubenstein.

 

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OVERVIEW

In this module we cover the primary method economists use to understand the workings of an economy, namely model building. Models represent a very structured way of thinking about a system that is sometimes difficult to understand. However, because there exists a pervasive lack of understanding about how models work which leads to misinterpretations about our economic knowledge, it is very important to explain economic reasoning.

VIDEO LECTURE

The Economic Method - 29 minutes

 

 

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