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ECON 1010 (102)
Lecture 11

ECON 1010 Lecture 11: Lecture 11

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ECON 1010
Laura K.Brown

Oc78 1. Normative statements are prescriptive 2. Ex: we should tax the rich 2. Positive statements can be confirmed or refuted, normative statements cannot 3. A key difference between the two statements is how we judge their validity 4. Positive statements analyze data 5. Normative statements involve values as well as facts 6. The two sets of statements are often closely intertwined in a person’s set of beliefs 7. Positive views about how the world works affect normative views about what policies are desirable 8. Much of economics is positive – it tries to explain how the economy works 9. Those who use economics often have goals that are normative – they want to learn how to improve the economy Economists in Ottawa: 1. The Government of Canada relies on the advice of economists 2. The influence of economists on policy goes beyond their role as advisers – their research and writings often affect policy indirectly 3. Economist John Maynard Keynes – his general theories about mana
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