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First Principles

In: Principles of Microeconomics

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  • Martin Kolmar

    (University of St. Gallen)

Abstract

This chapter covers … enough philosophy of science to be able to have a qualified opinion about the status and scientific role of economic theories. the basic paradigm of economics: to understand the functioning of societies as an adaption to the underlying principle of scarcity. why economics considers itself a methodology, and not a field of application. why the opposite of positive is no longer negative but normative. the relevance of opportunity costs. how to think and make decisions like an economist.

Suggested Citation

  • Martin Kolmar, 2017. "First Principles," Springer Texts in Business and Economics, in: Principles of Microeconomics, chapter 1, pages 3-23, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-57589-6_1
    DOI: 10.1007/978-3-319-57589-6_1
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