"EE" | Economics & Economists - İktisat & İktisatçılar
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"EE" | Economics & Economists - İktisat & İktisatçılar
About economics, schools of economics and economists - İktisat, iktisat ekolleri ve iktisatçılar hakkında
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Şu Ahlaksız İktisatçılar!

Şu Ahlaksız İktisatçılar! | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
Soru basit: İktisat ahlaki bir bilim midir, yoksa değil midir? Başka türlü sorayım: Ahlaki normların iktisatta bir yeri var mıdır? Pek çok iktisatçı ahlakın iktisatta yeri olmadığını söyleyecektir....
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The World in the Model: How Economists Work and Think

The World in the Model: How Economists Work and Think

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iconomix

iconomix | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
Das webbasierte Ökonomielehrangebot iconomix ermöglicht einen attraktiven und aktuellen Wirtschaftsunterricht. Es richtet sich an Lehrpersonen der Sekundarstufe II.
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Academics back students in protests against economics teaching

Academics back students in protests against economics teaching | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
Professors argue in letter to the Guardian against 'dogmatic intellectual commitment' to 'orthodoxy and against diversity'
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On the Difference Between GNP and GDP

On the Difference Between GNP and GDP | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
One of the most common questions I am asked about my research is “Why did we switch from GNP to GDP? What difference did that switch make?” In this post, I sketch a quick and partial answer. First,...
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What the GDP Gets Wrong (Why Managers Should Care)

What the GDP Gets Wrong (Why Managers Should Care) | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
The irony: We know less about the sources of value in the economy than we did 25 years ago.
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Dear New Yorker: Kuznets Did Not Invent GDP (and that matters)

Dear New Yorker: Kuznets Did Not Invent GDP (and that matters) | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
The New Yorker just published a short piece by James Surowiecki on the difficulty of valuing the gains for consumers generated by new technologies, especially digital goods which are given away for...
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Glanz und Elend der Ökonomie Teil 1

Wirtschaftswissenschaftler haben heutzutage einen schlechten Ruf. Nicht nur, dass fast alle mit ihren Konjunkturprognosen ständig schief liegen. Sie haben weder die Finanzkrise noch die Eurokrise vorhergesehen.
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Is published economics research credible?

The scientific credibility of economics is itself a scientific question that can be addressed with both theoretical speculations and empirical data. In this review, we examine the major parameters that are expected to affect the credibility of empirical economics: sample size, magnitude of pursued effects, number and pre-selection of tested relationships, flexibility and lack of standardization in designs, definitions, outcomes and analyses, financial and other interests and prejudices, and the multiplicity and fragmentation of efforts. We summarize and discuss the empirical evidence on the lack of a robust reproducibility culture in economics and business research, the prevalence of potential publication and other selective reporting biases, and other failures and biases in the market of scientific information. Overall, the credibility of the economics literature is likely to be modest or even low.
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Defending rational expectations

Defending rational expectations | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
Whenever I post anything which suggests that the idea of rational expectations was a useful innovation in macroeconomics, Lars Syll writes something to the effect that I am (and therefore most mainstream macroeconomists are) “so wrong, so wrong”. Now why does this bother me? Well, to be honest, it does not bother me very much. As Bob Dylan sang: ‘Yes, I received your letter yesterday (About the time the doorknob broke)’. But it does bother me a bit. Professor Syll does write very eloquently, and this kind of eloquent prose can appeal to the occasional young economist, who is inclined to believe that only the radical overthrow of orthodoxy will suffice. I meet one or two each year I teach. I remember the feeling: been there, done that. It also appeals to people like Aditya Chakrabortty who are understandably unhappy by the current state of things economic. (See this nice recent post by Diane Coyle on both this particular article but also heterodox critiques more generally.) There is plenty to legitimately criticise about mainstream economics (and its textbooks), so it is a shame Professor Syll wastes his talents on one of its major achievements, which is rational expectations. On this he is, well, so wrong.
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The Assumptions Economists Make

The Assumptions Economists Make

~ Jonathan Schlefer (author) More about this product
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The Mystery of Economic Growth

The Mystery of Economic Growth

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Colleges are teaching economics backwards

Colleges are teaching economics backwards | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it

“The world has changed, the syllabus hasn't.” That’s the motto of the Post-Crash Economics Society, a group of students at the University of Manchester who demand reforms to the way undergraduate economics is taught in light of the worldwide economic crisis. Similar activism is occurring in other elite undergraduate institutions: There was the well-publicizedOpen Letter to Greg Mankiw from students in the introductory economics class at Harvard, during the height of the Occupy movement. Meanwhile, institutions like the Institute for New Economic Thinking (INET) are getting involved by launching a pilot program to revamp the undergraduate economics curriculum.


Economics professors sometimes respond to these demands for change by arguing that, though the crisis presents unique challenges, there’s still a core set of knowledge that needs to be taught. If students want, they can move on to advanced classes which give a more nuanced view of elements of economics. But in order to critique economics, either inside the discipline or outside of it, they need to know the basics.

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Regression Discontinuity Porn

Regression Discontinuity Porn | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
I love a great discontinuity! 

 

Most of my own evaluation work has centered around randomized trials, but when I teach non-experimental IE methods, regression discontinuity is my favorite to teach. Regression discontinuity is, in short, when assignment to a development program is made based on some sort of score (e.g., a poverty score or a test score), and we compare the people immediately above and below the score to each other, since they should be very similar except for (a) a few points on a test score and (b) some people received the program! Here is why I like teaching it:
 

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Understanding New-Keynesian models

Understanding New-Keynesian models | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
Bruegel is a European think tank specializing in economics. Established in 2005, Bruegel is independent and non-doctrinal.
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National Income Bibliography

National Income Bibliography | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
There is not a ton of work on the history of national income statistics (NIS). On this page, I try to list all of the best works I have come across in diverse disciplines, from economics to history...
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Glanz und Elend der Ökonomie Teil 2

Vorbemerkung: Dieser Beitrag ist die Fortsetzung eines Artikels, in dem die Ursachen für den derzeit schlechten Ruf der Ökonomie behandelt werden.
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A Policy Proposal That All Economic Schools of Thought Should Prefer to the Status Quo

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Vom Unsinn der Prognose und vom Wert der Ökonomie

Vom Unsinn der Prognose und vom Wert der Ökonomie | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it

Vor Kurzem haben die "führenden" Wirtschaftsforschungsinstitute Deutschlands ihr jahreszeitlich übliches Gutachten vorgelegt. Taugt die darin veröffentlichte Prognose etwas? Taugen Wirtschaftsprognosen generell etwas?

 

Im Zuge der Wirtschaftskrise sind die Unzulänglichkeiten wirtschaftswissenschaftlicher Beratung deutlich zutage getreten. Die Politiker trauen den "Experten'" nicht mehr. Die Kanzlerin fährt lieber „auf Sicht“ statt auf wegweisende Meinungen der Ökonomen zu hören und der Finanzminister fertigte jüngst öffentlich einen seiner wichtigsten Berater ab. Nun liegt wieder einmal die jahreszeitlich übliche Prognose der „führenden“ Wirtschaftsforschungsinstitute vor. Hat sie einen Wert? Scheinbar exakte Prognosen wie die diese Woche vorhergesagten 1,8 % Wachstum für 2014 sind nicht hilfreich; solche Vorhersagen stehen, wie ich hier zeigen möchte, auf äußerst dürftiger wissenschaftlicher Grundlage.

 

In Deutschland gibt es etwa 40 Millionen Haushalte und 2 Millionen Unternehmen. Im Prinzip kann man ein ökonomisches Modell aufstellen, das die Ziele und Interaktionen der Akteure durch mathematische Gleichungen beschreibt. Trotz der Komplexität kann man damit wichtige ökonomische Sachverhalte und philosophisch grundlegende Fragen der Volkswirtschaftslehre klären. Hierzu gehören etwa die Rolle der Preise und des freien Wettbewerbs.

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Simon Wren-Lewis on rational expectations -- so wrong, so wrong

Simon Wren-Lewis on rational expectations -- so wrong, so wrong | "EE" | Economics & Economists - İktisat & İktisatçılar | Scoop.it
Oxford professor Simon Wren-Lewis tries -- again -- to defend the rational expectations hypothesis: To put it simply, the media help cause changes in public opinion, rather than simply reflect that...
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