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Chapter 2

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Department
Economics
Course
ECO1102
Professor
All Professors
Semester
Fall

Description
ECO1102Introduction to MacroeconomicsChapter 2Chapter 2 Thinking Like an Economist Economists as Scientists Make positive statementsCan be confirmed or refutedDescribes the world as it isEmploys the scientific method to develop and test theories about how the world worksEconomists as Policy Advisors Make normative statementsCannot be confirmed or refutedDescribes the world as what it should beAssumptions Simply the complex world to make it easier to understand and yields useful insight about the more complicated real world Models Simplified repr
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