Philosophy of Economics (030091-SoSe18)

Though the philosophical reflection on economics is as old as economics itself, the first philosopher of economics in the proper sense of the word is John Stuart Mill (1806–1873). Since then, there has been an ongoing and quite diverse development of the subject. Particularly in the last thirty years, economics and philosophy have come closer together due to advances and aspirations on both sides. But still, economics is a science with certain peculiarities which makes it quite interesting from the philosophy of science point of view. Albeit philosophy of economics comprises also ethical issues, the seminar will focus on theoretical issues, especially on models and causation in economics. Hence, the (highly interrelated) questions the seminar will deal with are, among others: what is economics in the first place? What is a (good) economic model? How must one assess the fact that many economic models rely on highly unrealistic assumptions? What about causation in economics – do paradigmatic macroeconomic generalizations like the Phillips Curve represent causal relationships? What is the ontological status of economic phenomena? And can economics be a proper science at all?

Prior knowledge of (philosophy of) economics is recommended but not presupposed. The relevant literature as well as the CP-modalities will be presented in the first session.