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by dbecker 3253 days ago
Economic research can be roughly divided into three subfields: Macroeconomics, Micro theory, and Empirical Micro.

The first 2/3 of an undergrad curriculum at most universities is all macro and micro theory. So, most of what an undergrad sees is prove this or solve that.

But far more econ faculty focus on empirical work for their personal research.

It's possible that we focus on theory because it spreads economic orthodoxy faster than empirical work. But economists spend much less time doing theory when they are outside undergraduate classrooms.

1 comments

> It's possible that we focus on theory because it spreads economic orthodoxy faster than empirical work

Or for the same reasons we start physics in a frictionless, idealized environment.

Pretty sure when I started physics in high school we started with measuring trolleys accelerating (or not) done an inclined run timed with ticker tape and covered the maths alongside the experiments.

Edit: I seem to remember friction being addressed pretty quickly as it was required to explain why your trolley would stop accelerating.... [NB It's been 30+ years]