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040264 SE Philosophy and Economics (MA) (2025S)
Essentialism, Nominalism, and Criticisms of Formal Methods in the Austrian School of Economics
Continuous assessment of course work
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Details
max. 50 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
Individual meetings can be moved online.
- N Thursday 06.03. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 13.03. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 20.03. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 27.03. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 03.04. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 10.04. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 08.05. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 15.05. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 22.05. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 05.06. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 12.06. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Thursday 26.06. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
Information
Aims, contents and method of the course
Assessment and permitted materials
Assessment
Efforts of students are evaluated on the basis of critical contributions to discussions (25%), talks (‘kick-off presentations’) (5%), seminar papers (40%), and written assignments (30%). Written and oral contributions are evaluated according to the clarity, precision, logical structure, and completeness regarding the problems and arguments discussed. Assignments and seminar papers can be in English as well as in German. The exact weights of these activities for the composition of the final grade depend on the number of participants and will be announced during the first class meeting. By registering for this course, you tacitly agree to having all your electronic submissions checked by Turnitin. The lecturers reserve the option to assign written or oral additional tasks, especially in cases where there is doubt whether performances were achieved independently.
Efforts of students are evaluated on the basis of critical contributions to discussions (25%), talks (‘kick-off presentations’) (5%), seminar papers (40%), and written assignments (30%). Written and oral contributions are evaluated according to the clarity, precision, logical structure, and completeness regarding the problems and arguments discussed. Assignments and seminar papers can be in English as well as in German. The exact weights of these activities for the composition of the final grade depend on the number of participants and will be announced during the first class meeting. By registering for this course, you tacitly agree to having all your electronic submissions checked by Turnitin. The lecturers reserve the option to assign written or oral additional tasks, especially in cases where there is doubt whether performances were achieved independently.
Minimum requirements and assessment criteria
In order to conclude this seminar successfully, students have to provide short kick-off presentation (10 minutes maximum) and hand in a seminar paper of about 5000 words; they also have to hand in written answers to assignments handed out during the course of the seminar (e.g. reports on discussions in the seminar or brief essays on problems discussed in the seminar, circa 3500 words overall), and contribute in a lively manner to discussions. Written answers, talks and seminar papers are evaluated according to the clarity, precision, logical structure, and completeness regarding the problems and arguments discussed.
Examination topics
Problems discussed in the seminar
Reading list
All required readings will be provided via Moodle. Readings include selections from:
Menger, C. - Principles of Economics
Menger, C - Investigations into the Method of the Social Sciences
Wieser, F. - Das Wesen und der Hauptinhalt der theoretischen Nationalökonomie
Wieser, F. - Recht und Macht
Wieser, F. - Social Economics
Wieser, F. - The Law of Power
Menger, C. - Principles of Economics
Menger, C - Investigations into the Method of the Social Sciences
Wieser, F. - Das Wesen und der Hauptinhalt der theoretischen Nationalökonomie
Wieser, F. - Recht und Macht
Wieser, F. - Social Economics
Wieser, F. - The Law of Power
Association in the course directory
Last modified: Fr 10.01.2025 00:01
The Austrian School of economics and other heterodox schools are highly skeptical regarding the use of mathematics and modern logic in economics, and according to some accounts even rejects formal methods altogether. The restriction to arguments in natural languages purportedly originates with Carl Menger’s “essentialist critique of the use of mathematics in the social sciences” (Boettke 1996) and his avoidance of mathematics “out of principle” (Jaffe 1976). This seminar will provide the basis for a critical discussion of this received view. First, arguments for and against the use of formal methods in (Austrian) economics are discussed. Second, different forms of essentialism and the debates whether Carl Menger and other Austrian economists (including Friedrich Wieser) held an essentialist position are discussed. Finally, Menger's and other Austrian economists' (non-/)essentialist positions are evaluated regarding their viability, fruitfulness, and relevance for the stance regarding formal methods.Aims
By discussing economic, epistemological, and methodological texts by (early) Austrian Economists, 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. Furthermore, judicious students can transfer the ability to identify and critically evaluate essentialist elements of explanations and arguments from the specific historical case to other variants of essentialist explanations, incling examples from contemporary public discourse.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 may be welcome as well, depending on the participants and the texts discussed. Ability to read German is recommended but participation for students who do not read German is possible. Students are required to prepare for every meeting on the basis of obligatory readings.