Created:
2005-Aug-31
by Jim Luke.
Micro
Economics
Part I
Unit 2
Slide
18
Positive vs. Normative Economics
Theory &
Positive
Economics
§
Evidence Supports/Denies
§
Conditional Forecasts
t
“ceteris paribus”
§
How things work/ What “is”
Policy &
Normative
Economics
§
Change Rules
§
What to do / What “should”