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Economics (923)
ECN 204 (281)
Chapter 2

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Department
Economics
Course
ECN 204
Professor
Christos Shiamptanis
Semester
Winter

Description
Chapter 2 Thinking Like an Economist The Economist as Scientist scientific methoddispassionate development and testing of theories about how the world works The Scientific Methodcollect analyze datavalidity of theoryexperiments difficult in ecnnot allowed to manipulate to generate useful datanatural experiment offered by historyinsight into the ecn of past illustrate and eval ecn theories of present The Role of Assumptionsassumptions can simplify the complex world and make it easier to understandprices in ecn change infrequently dont change much long run effects prices completely flexibleecn use diff assumptions when studying the short run and long run effects of change in the q
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