Week 6

Question 1

Is economics a contextual science?

Answer 1

Non-contextual is the economic mainstream. Contextual is considered to be heterodox economics.

Question 2

What does non-contextual economics deal with other disciplines?

Answer 2

History, politics, law, sociology.

Question 3

Gary Becker, what is an economical approach?

Answer 3

Economics is positive (non-normative, value-free ) science - a general theory of rational behavior.
Economic approach = maximizing behavior + market equilibrium + stable preference.

Question 4

What is the art of economics?

Answer 4

How to use economics to achieve a desired state of affairs.

Question 5

Reasons to doubt the strict value, and facts separation.

Answer 5

Methodological value, choosing subject matter, methods, standards of validity.
Value-ladenness of economic concepts, even purely technical meaning, they refer to a social reality.
Value judgment, we want satisfaction and not the fulfilment of the scientific duties.
Ethical values and norms are factors of human behavior.