Real-world economics is a school of economics that uses an
inductive method to understand economic processes. It approaches economics without making ''a priori'' assumptions about how ideal markets work, in contrast to what Nobel Prize-winning economist,
Ronald Coase
Ronald Harry Coase (; 29 December 1910 – 2 September 2013) was a British economist and author. Coase received a bachelor of commerce degree (1932) and a PhD from the London School of Economics, where he was a member of the faculty until 1951. ...
, referred to as "blackboard economics" and its
deductive method.
See also
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Post-autistic economics
The post-autistic economics movement (french: autisme-économie), or movement of students for the reform of economics teaching (french: mouvement des étudiants pour une réforme de l'enseignement de l'économie), is a political movement that cri ...
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Heterodox economics
Heterodox economics is any economic thought or theory that contrasts with orthodox schools of economic thought, or that may be beyond neoclassical economics.Frederic S. Lee, 2008. "heterodox economics," ''The New Palgrave Dictionary of Economics' ...
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Complexity economics
Complexity economics is the application of complexity science to the problems of economics. It sees the economy not as a system in equilibrium, but as one in motion, perpetually constructing itself anew.Beinhocker, Eric D. The Origin of Wealth: Ev ...
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Pluralism in economics
The pluralism in economics movement is a campaign to change the teaching and research in economics towards more openness in its approaches, topics and standpoints it considers. The goal of the movement is to "reinvigorate the discipline ... nd b ...
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Humanistic economics
Humanistic economics is a distinct pattern of economic thought with old historical roots that have been more recently invigorated by E. F. Schumacher's Small Is Beautiful: Economics as if People Mattered (1973). Proponents argue for "persons-firs ...
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Real-World Economics Review
''Real-World Economics Review'' is a peer-reviewed open access academic journal of heterodox economics published by the "Post-Autistic Economics Network" since 2000. Since 2011 it is associated with the World Economics Association. It was known f ...
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Historical school of economics
The historical school of economics was an approach to academic economics and to public administration that emerged in the 19th century in Germany, and held sway there until well into the 20th century. The professors involved compiled massive econ ...
References
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External links
''Real-World Economics Review''Examples of real-world economics concepts from the American Economic AssociationReal-world economics explained at The Economics NetworkFoundations of Real-World Economics at Harvard Summer School
Economic ideologies
Schools of economic thought
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