Is economics a science? What distinguishes it from other sciences, both natural and social? Like many of the natural sciences, its theories are mathematically complex. Yet, like the social sciences, its 'laws' are largely everyday generalizations. Can such generalizations, which are far from universal truths, constitute a science? Does economics have a distinctive method? The first edition answered these and other questions about the scientific status of economics and its underlying methodology. In this fully updated new edition, Dan Hausman reflects on developments in both economics and the philosophy of economics over the last thirty years. It includes a new chapter on the methodology of macroeconomics, an updated discussion on the use of models, and new discussions causal inference and behavioural economics and their implications for theory appraisal. It is the perfect choice for a new generation of students studying the methodology of modern economics.

A comprehensive overview of theoretical economics, its distinctive modeling strategy, applicability, and empirical support.

About the Author
Daniel M. Hausman is the author of seven books and nearly 200 essays on issues at the boundaries between economics and philosophy. With Michael McPherson, he is the co-founder and former editor of the journal, Economics and Philosophy. In 2009, Hausman was elected to the American Academy of Arts and Sciences.


Book Information
ISBN 9781009320276
Author Daniel M. Hausman
Format Paperback
Page Count 450
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 789g
Dimensions(mm) 229mm * 152mm * 28mm