Cambridge M.Phil. in Economics, Option 660:  Methodology of Economics 

Course coordinator: Tony Lawson
Other lecturers:   Geoff Harcourt, Geoff Hodgson,  Clive Lawson, Paul Lewis,  Steve Pratten, Ingrid Robeyns, Jochen Runde

Methodology is currently one of fastest growing areas in Economics. Few serious economists still fail to recognise the centrality, importance, and indeed inevitability, of methodology in economics. All schools, traditions, approaches, and methods, etc., are grounded by a philosophy of science of some sort.

The MPhil option in the Methodology of Economics comprises two parts. The first examines the philosophy of science bases of some of the most prominent traditions or strands of economics. Such a programme is essential if economists are to obtain a critical awareness of the range of presuppositions and goals accepted by economists, along with their rationales. The second part of the course is concerned with examining recent developments, directions and debates in Economic Methodology. This provides an indication of the issues being researched by those reflective of the nature and state of the discipline and who are concerned to explore its range of possibilities and limitations.

The course is structured by eight one hour lectures (the first four to be given in the Michaelmas Term) and twelve two hour seminars, and supported by the monday evening workshop on realism and economics.

Part I   The Philosophy of Science Bases of Economic Traditions

Basic philosophy of science perspectives, including deductivism, subjectivism and critical realism...will be examined in relation to, for example, `formal theory', econometrics, new institutionalism, Friedman, Menger, Robbins, Shackle, various Austrians (especially Hayek), modern feminist theorising, Keynes, post Keynesianism, old institutionalism (especially Veblen and Commons), Marx, Marshall, Smith....

Part II   Recent Developments and Debates in Economic Methodology

Topics covered may include:

McCloskey and others on the `Rhetoric of Economics';
Hausman on `The Inexact and Separate Science of Economics';
Boylan and O'Gorman on `Causal Holism and Economics';
Developments in Feminist Economics, especially standpoint theorising;
Economics as Evolutionary Theory;
Abstraction and Isolationist procedures in Economics;
Path Dependence and Economics.......

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