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 was educated at the London School of Economics, where he was a member of the faculty until 1951. He was the Clifton R. Musser Professor of Eco ...
, referred to as "blackboard economics" and its
deductive method.
See also
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Post-autistic economics
The post-autistic economics movement (), or movement of students for the reform of economics teaching (), is a political movement that criticises neoclassical economics and advocates for pluralism in economics. The movement gained attention afte ...
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Heterodox economics
Heterodox economics is a broad, relative term referring to schools of economic thought which are not commonly perceived as belonging to mainstream economics. There is no absolute definition of what constitutes heterodox economic thought, as it i ...
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Complexity economics
Complexity economics is the application of complex system, complexity science to the problems of economics. It relaxes several common assumptions in economics, including general equilibrium theory. While it does not reject the existence of an equ ...
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Pluralism in economics
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Humanistic economics
* ''
Real-World Economics Review
Real World or The Real World may also refer to:
* Real life, a phrase to distinguish between the real world and fictional, virtual or idealized worlds
* Reality
* World
* Existence Television
* The Real World (TV series), ''The Real World'' (TV s ...
''
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Historical school of economics
The German 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 massi ...
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Foundations of Real-World Economics
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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