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ECON 101 - Chapter 2: Thinking Like an Economist

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Pairach Piboonrungroj

on 14 June 2013

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Transcript of ECON 101 - Chapter 2: Thinking Like an Economist

Thinking Like an Economist
The Economist
as a Scientist
World leading Economists
What type of Economist you would like to be?
The Scientific Method:
Observation,Theory, and More Observation
The Economist
as a Policy Adviser
Positive versus Normative Analysis
Why Economists Disagree?
Graphing: How to?
Single variable
The Role of Assumptions, what???
Economic Model
The Circular Flow
The Production Possibilities Frontier
Positive statements are descriptive.
They make a claim about how the world is.

Normative statements are prescriptive.
They make a claim about how the world ought to be.
Thai Economists
CMSE Alumni
Dr Pisit Leeahtum
Professor Mingsarn Kaosa-ard
Dr. Ammar Siamwalla
Dr. Puey Ungpakorn
Assoc.Prof.Prasert Silphiphat
Politicians & Gov. Officers
Dr.Prasarn Trairatvorakul
Dr.Kittiratt Na-Ranong
Economists may disagree about the validity of alternative
positive theories
about how the world works.
Economists may have different values and therefore different
normative views
about what policy should try to accomplish.
Differences in
Scientific Judgments
Differences in
Perception vs Reality
Three Main Reasons
Prof.Paul Krugman
... and our Father
Adam Smith
Any question?
Full transcript