040049 SE Philosophy and Economics (MA) (2021W)

Content
Mayer and other authors claim that scientists face a trade-off between truth and relevance on the one hand, and precision and rigour on the other hand. According to Mayer and other critics, an excessive over-formalization of mainstream economics has driven the discipline towards an exaggerated emphasis on precision and rigour, thereby neglecting truth and relevance of economic theories. The seminar will start by introducing students to some of the problems and arguments in these debates, using Mayer (1992) and other readings. Subsequently, four clusters of concepts and positions will be rationally reconstructed and critically assessed: (1) truth, (2) realism, hypotheticism, and instrumentalism, (3) economic models, (4) formalization and the use of formal methods. Special attention will be paid to explications of different uses of some of the key-terms in these debates.
Aims
By discussing different epistemological and methodological views regarding human knowledge diligent students will learn to make sense of the theoretical problems and their historical background as well as to evaluate the achievements and main criticisms proposed in different debates.
Method:
Teaching consists in one unbroken 90-minute seminar, in which usually one or two texts are critically discussed. The language of discussion is English, though German is welcome as well, depending on the texts discussed. Students are required to prepare for every meeting on the basis of obligatory readings.