The Art and Practice of Economics Research

The Art and Practice of Economics Research

Lessons from Leading Minds

Simon W. Bowmaker

The Art and Practice of Economics Research provides an in-depth look into the research methods of leading economists from across the United States and Europe. This innovative volume contains 25 interviews with practicing economists, presenting insightful personal accounts into an often-misunderstood field.

Foreword

Simon W. Bowmaker

Subjects: economics and finance, methodology of economics

Extract

In this book, Simon Bowmaker offers a remarkable collection of conversations with leading economists about research in economics. He has selected a broad sample of the great economists of our time, including people whose perspectives span most of the major subdivisions of economics research, from micro to macro, from theoretical to empirical, from rationalist to behavioral. Here each offers his or her personal view of how one can do great work to advance understanding of economic problems. This is a critical time for the economics profession, when it is clear that our understanding of economics is not good enough. Nobody can be complacent about the received wisdom in economics at a time when financial crises and a global recession have crippled the economies of so many nations. Demand for new advances in economic analysis has never been greater, and each economist here expresses a personal and professional commitment to help meet this demand. While recognizing the need to learn more, however, we should also recognize a broadly shared appreciation of the value of what economists have learned in the past. Recent decades have seen major advances in many areas of economics which are discussed by experts in this book and which can provide the basis for the future advances that are so greatly needed. Furthermore, the difference between American unemployment near 10 per cent in today’s Great Recession and American unemployment reaching 25 per cent in the Great Depression of the 20th century may be credited to better macroeconomic management...