Essay Questions
1) Theories and models play a crucial role in explaining phenomena in science, in general and in economics, in particular. Discuss the differences that exist between models and theories and the role played by “laws” and, by focusing on one economic model, analyse the assumptions and rhetorical strategy adopted by the author to support his/her thesis. Does this modelling strategy fit well with Rodrik’s claim that “models enable rational and constructive debate because they clarify sources of disagreement”?
2) Robbins (1932)’s famous definition of economics was contrasted by Buchanan’s (1964) reconsideration of the subject matter of economics. Discuss the logic underlying to both definitions and their weaknesses, if any. Are the two “logics” irreconcilable? am a definition be only “positive” as Robbins claimed?
3) According to the economist K E Paulding (1955): «Theories without facts may be barren, but facts without theories are meaningless. (..) Indeed it is hardly too much to claim that without a theory to interpret it there is no such thing as a ‘facrat all». Discuss and analyse the relationship between facts and theories within the context of the debate on theory-dependence of observation. How did Popper and aycyabgag, see the relationship between observation and scientific hypotheses? Do you agree with them?
4) According to McCloskey, bourgeois dignity, rhetoric and communication are the key drivers of the “The Great Enrichment”. Explain what the main features of this historic phenomenon are and why, according to Mcaoskey, “ideas” have transformed modern economies more than material causes. Why, according to bacaaligx„ should “thuumpARke,’ take centre stage in modern economics?
