Group 3: Normative and Positive Traditions in Economics
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Introduction: What are Positive and Normative Economics?
Normative Economics
Definition
Famous Normative Economists
Positive Economics
Definition
Famous Positive Economists
Graphs
What the classicals said
Merits of considering both traditions
Transition period, Seperation, and their labeling
Friedman
Economics today (Positive) & its future
Ethics and engineering
Serious economics scholars vs. casual understanding
Caldwell
What we learn from this
Consider both traditions
Works Cited
