ECON 103 Lecture Notes - Lecture 1: Methodological Individualism, Applied Psychology

• School: UMASS-Amherst
• Department: Economics
• Course: ECON 103
• Professor: Gerald Friedman

Document Summary

Microeconomics class notes: economics is about the production and distribution of well being. If it"s choice, presumption is that the system is good. If it"s history, the system could be good or bad: orthodox neoclassical economics. Methodological individualism- econ as applied psychology, things happen because individuals choose for them to happen i) society is the result of individual choice. Methodological individualism: society= sum of individuals, everything happens because individuals want things to happen, fundamentally conservative. Social science: individuals are shaped by society, things happen because of existing institutions, fundamentally liberal. Methodological individual: no it is the persons choice to watch it, they want to watch it if they"re watching it therefore it is okay. Social science: yes it is bad- people are shaped by values and experiences so if they watch violent television they"ll be more violent: institutions: established ways for us to understand and act. They simplify social life: institutions make cooperation easier.