Examples of normative economics in the following topics:
-
- Positive economics is defined as the "what is" of economics, while normative economics focuses on the "what ought to be".
- Positive and normative economic thought are two specific branches of economic reasoning.
- Normative economics is a branch of economics that expresses value or normative judgments about economic fairness.
- Positive economics does impact normative economics because it ranks economic policies or outcomes based on acceptability (normative economics).
- Positive economics is defined as the "what is" of economics, while normative economics focuses on the "what ought to be. " Positive economics is utilized as a practical tool for achieving normative objectives.
-
- Methodological problems apply to all knowledge including Newtonian mechanics, the theory of relativity and quantum mechanics as well as economics.
- In economics, the methods used and ideological preconceptions of individual economists and schools of thought help to explain many of the differences in explanations of problems and policies advocated.
- Modern economic theory has a long tradition of following a "modernist" methodology characterized by a strong faith in empiricism and rationalism.
- Normative economics (or the study of what "ought to be") is seen as distinctly separate from positive economics.
- When economics is studied as a process of provisioning, normative and positive issues become interrelated.
-
- His article, "The Methodology of Positive Economics" in Essays in Positive Economics [1953] was one of the most important influences on economic thought.
- In this important piece, Friedman sets the standards for normative and positive economics as well as influencing several generations of economists.
- He argues that positive economics is "independent of any ethical position" and its task is to provide "a system of generalizations that can be used to make predictions about the consequences of any change in circumstances;" it is deals with "what is" (Friedman, p 4).
- Normative economics is dependent on positive economics and deals with "what ought to be. "
- Friedman argues that economics can be a positive science.
-
- The first step in the so-called scientific method requires an integration of positive and normative issues (normative and positive aspects of economics was discussed under the section on Milton Friedman).
- If my shoes hurt my feet (a positive statement) and I think they shouldn't hurt my feet (a normative statement), I recognize a problem.
- If there is unemployment (positive statement) and believe there should be unemployment (normative statement), a problem is not recognized.
-
- Today much of value theory is scientifically empirical, recording what people do value and attempting to understand why they value these things in the context of psychology, sociology, and economics.
- Values are related to the norms of a culture, but they are more global and abstract than norms.
- Norms are rules for behavior in specific situations, while values identify what should be judged as good or evil.
- Flying the national flag on a holiday is a norm, but it reflects the value of patriotism.
- Wearing dark clothing and appearing solemn are normative behaviors at a funeral.
-
- Social norms are sets of shared beliefs about how people should behave.
- Once formed, norms are not easily changed.
- Teams can create norms through discussions among team members.
- Norms are different from rules.
- In contrast, norms are sets of expectations, not edicts.
-
- Explicit norms are often enforced by formal sanctions.
- Groups may adopt norms in two different ways.
- One form of norm adoption is the formal method, where norms are written down and formally adopted (e.g., laws, legislation, club rules).
- Students demonstrate social norms of personal space by violating the norms.
- In most Western countries, norms have prohibited same-sex marriage, but those norms are now changing.
-
- A tradeoff always exists between material economic development and the welfare of society and the environment.
- In it they explain that corporate social responsibility is a way of conducting business through balancing the long-term objectives, decision making, and behavior of a company with the values, norms, and expectations of society.
- The Conference Board of Canada, a not-for-profit organization that specializes in economic trends, suggests that social responsibility is a way of conducting business through balancing the long-term objectives, decision-making, and behavior of a company with the values, norms, and expectations of society.
- Social responsibility can be a normative principle and a soft law principle engaged in promoting universal ethical standards in relationship to private and public corporations.
- Examine how social responsibility helps to sustain the equilibrium between economic development and the welfare of society and the environment
-
- For vectors and matrices both we can define a generalization of this concept of length called a norm.
- The most useful class of norms for vectors in $\mathbf{R}^{n}$ is the $\ell _p$ norm defined for $p \geq 1$ by
- For $p=2$ this is just the ordinary Euclidean norm: $\|\mathbf{x}\| _ 2 = \sqrt{\mathbf{x}^T \mathbf{x}}$ .
- A finite limit of the $\ell _p$ norm exists as $p \rightarrow \infty$ called the $\ell _ \infty$ norm:
- We won't need matrix norms in this class, but in case you're interested any norm on vectors in $\mathbf{R}^{n}$ induces a norm on matrices via
-
- Norms are social rules of behavior, and a sanction is a form of punishment against violation of different norms.
- The act of violating a social norm is called deviance.
- Individuals usually have a much easier time identifying the transgression of norms than the norms themselves.
- Like deviance, norms are always culturally contingent.
- To understand the norm, one must understand the context.