Methodologies of positive economics - The measurement-without-theory debate
8 important questions on Methodologies of positive economics - The measurement-without-theory debate
Between who was the measurement-without-theory debate?
What is the Cowles Commission?
1. A priori mathematical model
2. Estimated with equations
3. Hypothesis testing
What is the empirical statement of the NBER?
"Theory is the result of observation"
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
What was the statement of Koopmans?
Koopmans believed that economists are unable to conduct experiments to an economic system as a whole (so it is hard to seperate causes from consequences) (simultaneous equation bias)
- There are so many emperical relations and these relations can only be identified if the set of variables involved in each equation is specified in economic theory.
- Invariance problem; does it hold in the future?
What critique did Vining (NBER) give to Koopmans?
Cowles Comission's model is too simple to capture the diversity which the data seems to explain.
What were the three arguments to explain the implicatoins and limitations of the NBER's empiricist position?
2. The NBER provides no evidene for the assumption that the empirical relationships found would be eternal over time.
3. Statistical analysis of the data require additional assumptions about their probabilistic characteristics that cannot be subject to statistical testing from the same data.
What was Cowles Comission's solution to the problem of incompleteness?
Solution: build ever more extensive models, which should include as many potential influences as possible.
What were the problems with econometrics?
2. One will need to use more variables to get more certainty and to have less chance of omitted variable bias, but this leads to a more complex model. (The NBER and Tinbergen)
3. Koopmans and Haavelmo: start with a small model based on theory and expand the model if necessary.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
