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Is Macroeconomics a Science?

Author

Listed:
  • Barnett, William A.

Abstract

This paper was written as the first draft of the invited Foreword for the book, Money and the Economy, by Apostolos Serletis. The paper provides a critical view of those areas in which methodology in economics deviates from that in the physical sciences, provides examples and illustrations of those deviations, and emphasizes those areas of and approaches to economic research that most closely correspond with the nature of research in the physical sciences.

Suggested Citation

  • Barnett, William A., 2006. "Is Macroeconomics a Science?," MPRA Paper 415, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:415
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/415/1/MPRA_paper_415.pdf
    File Function: original version
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    References listed on IDEAS

    as
    1. William Barnett & Paul A. Samuelson & E. Roy Weintraub, 2005. "Inside the Economist's Mind: The History of Modern Economic Thought, as Explained by Those Who Produced It," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200522, University of Kansas, Department of Economics, revised Nov 2005.
    2. William Barnett & Apostolos Serletis & W. Erwin Diewert, 2005. "The Theory of Monetary Aggregation (book front matter)," Macroeconomics 0511008, EconWPA.
    3. William Barnett & Barry E. Jones & Milka Kirova & Travis D. Nesmith & Meenakshi Pasupathy1, 2004. "The Nonlinear Skeletons in the Closet," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200403, University of Kansas, Department of Economics, revised May 2004.
    4. Nikolay Nenovsky & S. Statev, 2006. "Introduction," Post-Print halshs-00260898, HAL.
    5. William Barnett, 2005. "Monetary Aggregation," Macroeconomics 0503017, EconWPA.
    6. William A. Barnett & Jane Binner & W. Erwin Diewert, 2005. "Functional Structure and Approximation in Econometrics (book front matter)," Econometrics 0511006, EconWPA.
    7. M. Ruth & K. Donaghy & P. Kirshen, 2006. "Introduction," Chapters,in: Regional Climate Change and Variability, chapter 1 Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    science; social science; politics; Federal Reserve; monetary policy;

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • A10 - General Economics and Teaching - - General Economics - - - General

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