An Overview on Methodology in Economics | Chapter 03 | New Innovations in Economics, Business and Management Vol. 9

 

The methodological explanation of an interdisciplinary approach in economics is presented in this work. A mixture or synthesis of philosophical and mathematical methodologies is referred to as bimodal methodology. It necessitates an examination of a brief history of economic methodology, two conceptions for global vision, and three methodological tendencies related to it. The philosophy of economics and its respective discipline are part of the philosophical basis of economic methodology. The presentation of positivism, notably that of Mill, Marshall, Popper, Lakatos, Friedman, and Dewey, is a key methodological position in economic theory. In economic science, four methodological perspectives are used: methodological individualism, methodological holism, institutional individualism, and methodological institutionalism. In economic research, mathematical ideas of economic technique have always been prevalent. Last but not least, the "New Macroeconomic Consensus" (NCM) model, which ensures continual interrelationships and the interplay of the two major economic philosophies – neoclassical and post-Keynesian. The major methodological perspectives on economic theory may describe economic life in all of its aspects - micro, macro, and geoeconomic levels.

Author(S) Details

Anton S. Filipenko
Department of World Economy and International Economic, Relations of the Institute of International Relations of Taras, Shevchenko, National University of Kyiv, Ukraine.

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