Philosophy of Economics

The course aims at familiarizing students with the main philosophical debates concerning the status of economics as a science, as well as its moral and political dimension.

Knowledge and understanding
At the end of the course the students
- will learn to analyse and evaluate critically the main epistemological and normative critiques of mainstream (neoclassical) economics, as well as the main arguments in its favour;
- will understand arguments concerning the use of idealized models and the problems faced by social scientists when they try to forecast economic events;
- will learn the difference between nomological and causal explanations, and the pros and cons of theory-testing in the laboratory and in the field.
- will understand the main arguments in favour of market institutions, as well as the critiques that highlight their limits;
- will know how different conceptions of welfare, equality and justice play a role in the evaluation of economic policies.


Ability to apply knowledge and understanding
At the end of the course the students
- will be able to analyse and critically assess the main arguments brought in favour and against different philosophical positions concerning the methodology of economics and the normative evaluation of economic policies;
- will be able to identify the ways in which these debates may be resolved, and how their solutions may contribute to scientific progress and understanding;
- will be able to present the main arguments independently, satisfying the main requirements of scholarly writing.