An Overview on Methodology in Economics
New Innovations in Economics, Business and Management Vol. 9,
17 May 2022
,
Page 40-50
https://doi.org/10.9734/bpi/niebm/v9/6167F
Abstract
This paper presents a methodological discussion of interdisciplinary approach in economics. Bimodal methodology means a combination or synthesis of philosophical and mathematical methods. It needs an observation of short history of economic methodology, two concepts the vision of the world, three methodological trends about it. The philosophical background of economic methodology includes philosophy of economics and its appropriate discipline. Key methodological views in economic theory are presenting of positivism particularly of Mill, Marshall, Popper, Lakatos, Friedman and Dewey. Four methodological point of views are a concrete application in economic science, namely methodological individualism, methodological holism, institutional individualism and methodological institutionalism. Mathematical views of economic methodology have always been present in economic research. Last example is the New Macroeconomic Concensus "model (NCM), to ensure constant interrelationship and the interaction of these two important fundamental economic paradigms – neoclassical and post-Keynesians. the main methodological views on economic theory can explain the economic life in all its dimensions - the micro - macro - and geo-economic levels.
- Economic methodology
- discourse
- the philosophy of science
- naturalism
- constructivism
- realism
- post-modern
- methodological individualism