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ECON 101 - Chapter 2: Thinking Like an Economist
Transcript of ECON 101 - Chapter 2: Thinking Like an Economist
as a Scientist
World leading Economists
What type of Economist you would like to be?
The Scientific Method:
Observation,Theory, and More Observation
as a Policy Adviser
Positive versus Normative Analysis
Why Economists Disagree?
Graphing: How to?
The Role of Assumptions, what???
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.
Dr Pisit Leeahtum
Professor Mingsarn Kaosa-ard
Dr. Ammar Siamwalla
Dr. Puey Ungpakorn
Politicians & Gov. Officers
Economists may disagree about the validity of alternative
about how the world works.
Economists may have different values and therefore different
about what policy should try to accomplish.
Perception vs Reality
Three Main Reasons
... and our Father