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Why does economists disagree on normative issues?
they have different value judgment
How can macro economists use the micro economic theory to guide them in their work?
economic theory can guide the economists to solve macroeconomic issues such as inflation, unemployment, deflationary and inflationary gaps, budget deficits etc.
What are two reasons why economists have a reputation for giving conflicting advice to policymakers?
Economists often give conflicting advice to policy makers for two basic reasons: 1) economists may disagree about the validity of alternative positive theories about how the world works and/or 2) economists may have different values and therefore different normative views about what policy should try to accomplish
In building economic models economists often omit?
Details
Which of these described they economic view of the Chicago school of economists?
microeconomic
What is the job of the economic planner?
Economists study how society distributes resources, such as land, labor, raw materials, and machinery, to produce goods and services. They may conduct research, collect and analyze data, monitor economic trends, or develop forecasts. Economists research a wide variety of issues including energy costs, inflation, interest rates, exchange rates, business cycles, taxes, and employment levels, among others. Economists develop methods for obtaining the data they need. For example, sampling techniques may be used to conduct a survey and various mathematical modeling techniques may be used to develop forecasts. Preparing reports, including tables and charts, on research results also is an important part of an economist's job. Presenting economic and statistical concepts in a clear and meaningful way is particularly important for economists whose research is intended for managers and others who do not have a background in economics. Some economists also perform economic analysis for the media.
Why don't economists agree on the same solutions to economic problems?
There are two main reasons that economists disagree when giving opinions to solve economic problems. Here are prime examples: * Economists do not come to the same conclusions when determining the validity of alternative assumptions of how the world's economy operates. With that said, their views of the sensitivity and impact of household savings to the resulting changes in the after tax return to saving; and * Economists work from different values. ( the prime example here is how an economist in the former USSR had different values than one in the United States) The two economists have different views about what policy should try to accomplish. So, they can have a fundamental differences of whether taxes should be raised for the redistribution of income.
What the economists often omit in building economic models?
theories is not correct
How many types of economic policies are there?
As many as there are economists! The classic proverb is that if you ask three economists the same question, you'll get four different answers.
Forecasts of economists have?
been less accurate than forecasts of economic growth
On which issues do you agree with Emerson that we should be self-reliant...On which issues do you disagree...Why?
copyrite
What has the author A W Coats written?
A. W. Coats has written: 'The classical economists and economic policy' -- subject(s): Economic policy, Economics, Free enterprise, History, Laissez-faire 'Methodological Controversy in Economics: Historical Essays in Honor of T.W. Hutchison' 'The sociology and professionalization of economics' -- subject(s): Economics, Government economists, History, Sociological aspects, Sociological aspects of Economics 'Economic ideas for economic historians' 'Economists in International Agencies' 'Debates In Economic History'
