Incremental Analysis, with TwoYards to Go

Incremental Analysis, with TwoYards to Go The academic paper that Daviu Romer began writmg two years ago did not look like something that could determine the outcome of a Super Bowl. Sure, it was an analysis of whether professional football teams punt more often than...

ECONOMISTS IN WASHINGTON

ECONOMISTS IN WASHINGTON President Harry Truman once said that he wanted to find a one armed economist. When he asked his economists for advice, they always answered, “On the one hand”. Truman was right in realizing that economists’ advice is not...

POSITIVE VERSUS NORMATIVE ANALYSIS

POSITIVE VERSUS NORMATIVE ANALYSIS To help clarify the two roles that economists play, we begin by examining the use of language. Because scientists and policy advisers have different goals, they use language in different ways. For example, suppose that two people are...

THE ECONOMIST AS POLICY ADVISER

THE ECONOMIST AS POLICY ADVISER Often, economists are asked to explain the causes of economic events. Why, for example, is unemployment higher for teenagers than for older workers? Sometimes economists are asked to recommend policies to improve economic outcomes....

MICROECONOMICS AND MACROECONOMICS

MICROECONOMICS AND MACROECONOMICS Many subjects are studied on various levels.’ Consider biology, for example. Molecular biologists study the chemical compounds that make up living things. Cellular biologists study cells, which are made up of many chemical...