{"id":2518,"date":"2013-11-24T01:41:11","date_gmt":"2013-11-24T01:41:11","guid":{"rendered":"http:\/\/blog.soton.ac.uk\/comp6044\/?p=2518"},"modified":"2013-11-24T01:41:11","modified_gmt":"2013-11-24T01:41:11","slug":"economics-3-modelling-methodologies","status":"publish","type":"post","link":"https:\/\/blog.soton.ac.uk\/comp6044\/2013\/11\/24\/economics-3-modelling-methodologies\/","title":{"rendered":"Economics 3 &#8211; Modelling &amp; Methodologies"},"content":{"rendered":"<p><strong>Researcher:<\/strong> Jo Munson<br \/>\n<strong>Title:<\/strong> Can there ever be a &#8220;Cohesive Global Web&#8221;?<br \/>\n<strong>Disciplines:<\/strong> Economics, Ethnography (Cultural Anthropology)<\/p>\n<p><img decoding=\"async\" alt=\"Lawrence Klein\" src=\"http:\/\/www.latimes.com\/media\/photo\/2013-10\/77881428.jpg\" width=\"500\" \/><br \/>\n<em>Lawrence Klein, Econometrician who won a Nobel prize for his Economic forecasting models.  Lawrence passed away on 20 October, aged 93.<\/em><\/p>\n<h2>Methodology<\/h2>\n<p>Methods in Economics<br \/>\nWhen questioning the world, Economists consider questions of two types:<\/p>\n<ul>\n<li>Normative \u2013 subjective, opinion based statements that dictate \u201cwhat ought to be&#8221;.<\/li>\n<li>Positive \u2013 objective, fact based statements that describe \u201cwhat is\u201d and that can be proved or disproved.<\/li>\n<\/ul>\n<p>In order to establish the validity of Positive statements Economists propose a question or theory (state their hypothesis), construct a simplified model of the Economic phenomenon they are observing, collect data and make statistical inferences to establish the veracity of their initial theory, or make improvements to it.  Normative statements can then be derived from Positive research to make statements about how things should be.  The most comon application of Normative statements is in Economic design.<\/p>\n<h2>Next time (and beyond)\u2026<\/h2>\n<p>I&#8217;ve had a quick reshuffle of the order, but broadly, I will be covering the following in the proceeding weeks:<\/p>\n<ul>\n<li><del datetime=\"2013-10-25T22:31:46+00:00\">Can there ever be a \u201cCohesive Global Web\u201d?<\/del><\/li>\n<li><del datetime=\"2013-10-25T22:30:31+00:00\">Ethnography 1 &#8211; Introduction &amp; Definition<\/del><\/li>\n<li><del datetime=\"2013-10-25T22:43:13+00:00\">Ethnography 2 &#8211; Disciplinary Approach<\/del><\/li>\n<li><del datetime=\"2013-10-25T23:33:50+00:00\">Economics 1 &#8211; Introduction &amp; Definition<\/del><\/li>\n<li><del datetime=\"2013-10-27T20:19:03+00:00\">Economics 2 &#8211; Disciplinary Approach<\/del><\/li>\n<li><del datetime=\"2013-11-24T01:15:12+00:00\">Ethnography 3 &#8211; Theories &amp; Methodologies<\/del><\/li>\n<li><del datetime=\"2013-10-27T20:19:03+00:00\">Economics 3 &#8211; Modelling &amp; Methodologies<\/del><\/li>\n<li>Ethnographic Approach to the &#8220;Cohesive Global Web&#8221;<\/li>\n<li>Economic Approach to the &#8220;Cohesive Global Web&#8221;<\/li>\n<li>Ethno-Economic Approach to the &#8220;Cohesive Global Web&#8221;<\/li>\n<\/ul>\n<h2>Sources<\/h2>\n<p>Peoples, J. and Bailey, G. 1997. Humanity. Belmont, CA: West\/Wadsworth.<\/p>\n<p>Barnard, A. 2000. Social anthropology. Taunton: Studymates.<\/p>\n<p>Image retrieved from: <a href=\"http:\/\/www.latimes.com\/media\/photo\/2013-10\/77881428.jpg\">http:\/\/www.latimes.com\/media\/photo\/2013-10\/77881428.jpg<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Researcher: Jo Munson Title: Can there ever be a &#8220;Cohesive Global Web&#8221;? Disciplines: Economics, Ethnography (Cultural Anthropology) Lawrence Klein, Econometrician who won a Nobel prize for his Economic forecasting models. Lawrence passed away on 20 October, aged 93. Methodology Methods in Economics When questioning the world, Economists consider questions of two types: Normative \u2013 subjective, [&hellip;]<\/p>\n","protected":false},"author":93394,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2518","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/posts\/2518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/users\/93394"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/comments?post=2518"}],"version-history":[{"count":24,"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/posts\/2518\/revisions"}],"predecessor-version":[{"id":2878,"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/posts\/2518\/revisions\/2878"}],"wp:attachment":[{"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/media?parent=2518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/categories?post=2518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.soton.ac.uk\/comp6044\/wp-json\/wp\/v2\/tags?post=2518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}