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Teaching Economics as a Science: the 1930 Yale Lectures of Ragnar Frisch

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  • Bjerkholt, Olav

    (Dept. of Economics, University of Oslo)

  • Qin, Duo

    (Department of Economics, Queen Mary, University of London)

Abstract

This paper is prepared for the forthcoming publication of Frisch’s 1930 Yale lecture notes, A Dynamic Approach to Economic Theory: The Yale Lectures of Ragnar Frisch (details at: http://www.routledgeeconomics.com/books/A-Dynamic-Approach-to-Economic-Theory-isbn9780415564090). As the lecture series was given just as the Econometric Society was founded in 1930. We provide as background, a blow-by-blow story of how the Econometric Society got founded with emphasis on Frisch’s role. We then outline how the Yale lecture notes came into being, closely connected to Frisch’s econometric work at the time. We comment upon the lectures, relating them to Frisch’s later works and, more important, to subsequent developments in economics and econometrics.

Suggested Citation

  • Bjerkholt, Olav & Qin, Duo, 2010. "Teaching Economics as a Science: the 1930 Yale Lectures of Ragnar Frisch," Memorandum 05/2010, Oslo University, Department of Economics.
    • Handle: RePEc:hhs:osloec:2010_005
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    File URL: https://www.sv.uio.no/econ/english/research/unpublished-works/working-papers/pdf-files/2010/Memo-05-2010.pdf
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    References listed on IDEAS

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    1. Brunner, Karl & Meltzer, Allan H., 1976. "The Phillips curve," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 1-18, January.
    2. Ragnar Frisch, 1936. "On the Notion of Equilibrium and Disequilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 3(2), pages 100-105.
    3. Frisch, Ragnar, 1981. "From Utopian Theory to Practical Applications: The Case of Econometrics," American Economic Review, American Economic Association, vol. 71(6), pages 1-16, Special I.
    4. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 39(3), pages 106-135.
    5. Olav Bjerkholt & Ariane Dupont, 2010. "Ragnar Frisch's Conception of Econometrics," History of Political Economy, Duke University Press, vol. 42(1), pages 21-73, Spring.
    6. Olav Bjerkholt, 2007. "Ragnar Frisch's business cycle approach: The genesis of the propagation and impulse model," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 14(3), pages 449-486.
    7. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-438, July.
    8. Bjerkholt, Olav, 2005. "Frisch'S Econometric Laboratory And The Rise Of Trygve Haavelmo'S Probability Approach," Econometric Theory, Cambridge University Press, vol. 21(3), pages 491-533, June.
    9. Frisch, Ragnar, 1992. "Statics and dynamics in economic theory," Structural Change and Economic Dynamics, Elsevier, vol. 3(2), pages 391-401, December.
    10. Olav Bjerkholt (ed.), 1995. "Foundations of Modern Econometrics," Books, Edward Elgar Publishing, volume 0, number 46.
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    Cited by:

    1. Belyanova, E. & Makasheva, N., 2020. "The constructivist project 'Econometrics-1930': Implementation of the impossible or realization of inevitable?," Journal of the New Economic Association, New Economic Association, vol. 47(3), pages 158-177.
    2. Carret, Vincent, 2021. "Fluctuations and growth in Ragnar Frisch’s rocking horse model," OSF Preprints 69nsg, Center for Open Science.

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    Keywords

    history; econometrics;

    JEL classification:

    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies

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