1. The Basic Problem of Studying Economics and Applying our Theories

2. Social Science is a Pseudo-science

3. Social Science is a Tool Rather than a Collection of Laws

4. Induction Deduction Knowledge
Alfred Marshall – Professor Economics, Cambridge University and the man who helped to create the Principles of Economics
“Facts are the bricks out of which reason builds the edifice of knowledge.“
Induction
Deduction
Knowledge

5. Induction = Statistical Facts and Deduction = Theoretical Reasoning

6. What are the Goals of Successful Economic Analysis ?
(1) The Analysis Should be Credible (as
Measured by Peoples’ Behavior)
(2) The Analysis Should be Useful ( i.e. it
should have some meaningful relation to
our lives)
(3) The Analysis Should be Interesting (that is,
it should stimulate other research)

7. Useful Data and Graphic Sites Useful Software (Open Source or Free)
Trading Economics
FRED St. Louis Fed
Economagic
World Bank
IMF
United Nations
Useful Software (Open Source or Free)
gretl link
jmulti link
R link
(android) Listnote see Google Play
(android) ES File Explorer see Google Play
(android) File Shortcut see Google Play