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Foundations of Research in Economics: How do Economists do Economics?

Edited by Steven G. Medema, Research Professor of Economics, Duke University and the late Warren J. Samuels, former Professor Emeritus of Economics, Michigan State University, US
This stimulating and authoritative book features original essays from leading scholars in the discipline – each of whom address the question: how should economists do economics? What emerges is a diverse, constructive commentary on how economics is done and how it should be done.
Extent: 320 pp
Hardback Price: $159.00 Web: $143.10
Publication Date: 1996
ISBN: 978 1 85898 163 5
Availability: In Stock
Paperback Price: $64.00 Web: $51.20
Publication Date: 1998
ISBN: 978 1 85898 771 2
Availability: In Stock
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  • Economics and Finance
  • Methodology of Economics
  • Research Methods
  • Quantitative Research Methods
  • Research Methods in Economics
  • Research Methods
This stimulating and authoritative book features original essays from leading scholars in the discipline – each of whom addresses the question: how should economists do economics? What emerges is a diverse, constructive commentary on how economics is done and how it should be done.

Leading thinkers from a wide variety of perspectives and fields address issues such as the scope of economics, the corpus of theory and its stature, the process of theory construction, the place of mathematical formalism, the role of quantitative analysis, the place of institutions in economic analysis, and, inter alia, technical methods of research.

Foundations of Research in Economics: How do Economists do Economics? brings together some of the leading figures from many different schools of thought. This volume ranges across all aspects of professional discourse, ensuring that it will be widely read by economists active in many different areas of research while being of particular interest to economic theorists, methodologists and historians of economics.
‘Do read this volume if you want to be stimulated and entertained.’
– Christopher Bliss, The Economic Journal

‘The volume contains many interesting and inspiring articles. . . . provides some methodological reflections as well as hands-on advice on how to do economics.’
– Axel Schimmelpfennig, Weltwirtschaftliches Archiv, Review of World Economics

‘. . . the editors deserve the thanks of the profession for gathering this interesting collection of ideas about the proper manner(s) of doing economics from some of the more important participants in the process.’
– Melvin W. Reder, Journal of Economic Literature

‘Medema and Samuels have put together a valuable collection that highlights the richness of methodological diversity.’
– Sherryl Davis Kasper, Journal of Economic Issues
Contributors: R.E. Backhouse, L.A. Boland, J.M. Buchanan, D. Colander, L.F. Dunn, T. Eggertsson, J.K. Galbraith, D.S. Hamermesh, G.C. Harcourt, G.M. Hodgson, P.A. Klein, P. Krugman, J.T. Landa, T. Lawson, E. Leamer, G.S. Maddala, T. Mayer, A. Schotter, V.L. Smith, R.H. Thaler, H.R. Varian, N. Wallace
Contents: Acknowledgements Introduction 1. Economics is a Historical Process 2. Realism in Economic Model Building 3. Economics as a Public Science 4. Surviving as a Slightly Out of Sync Economist 5. Extracting Economic Information From Data: Methodology in an Empirical Discipline 6. The Social Science of Wealth 7. What is To Be Done (about Economics)? 8. Doing Applied Economics: Normative and Positive Aspects 9. How I do Economics 10. Towards a Worthwhile Economics 11. How Should Economists Do Economics? A Pragmatic Perspective 12. How to be a Crazy Economist 13. Doing the Economics of Trust and Informal Institutions 14. The Predictive Science of Economics? 15. Questions, Theory and Data 16. The Dark Side of Economic Modeling 17. ‘You’re Not Making Sense, You’re Just Being Logical’ 18. Puzzle Solving: Reciprocity, Reasoning and Behavior 19. Doing Economics Without Homo Economicus 20. What Use is Economic Theory? 21. A Dictum for Monetary Theory How Should Economists Do Economics? An Integrative Essay Index