Normative Economics: Difference between revisions
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Figure 1: A graph of efficiency vs. fairness[[Sources and Works Cited|[3]]] | Figure 1: A graph of efficiency vs. fairness[[Sources and Works Cited|[3]]] | ||
<center>[[Group 3: Normative and Positive Traditions in Economics|Home]] | [[Introduction: What are Positive and Normative Economics?|Introduction]] | [[Normative Economics]] | [[Positive Economics]] | [[What the classicals said]] | [[Transition period, Seperation, and their labeling|Transition]] | [[Economics today (Positive) & its future]] | [[What we learn from this]] | [[Our Conclusions|Conclusion]] | [[Sources and Works Cited|Works Cited]]</center> | |||
Revision as of 19:03, 1 May 2007
Definition
1) "...A body of systematized knowledge discussing criteria of what ought to be...; a system of rules for the attainment of a given end." [1]
2) "Economics that tries to change the world by suggesting policies for increasing economic welfare..."[2]
History
Famous Normative Economists
Figure 1: A graph of efficiency vs. fairness[3]
