On Realism of Assumptions

  • How Should Economists Choose?, by Ronald Coase
    In this piece, Coase challenges many propositions by Friedman. He thinks realistic assumptions help economists to pin down the underlying mechansim that explains how economic system works in reality; and he also gives numerous examples that a few revolutionary economic theories in the past were never judged by their prediction power.

  • Realism and Comprehension in Economics — Exchanges between Oliver Williamson and Herbert Simon


On Econometrics and Empirical Studies


On Macroeconomics


On Behavioral Economics/Finance


On Field Experiments


On Economist as Engineer

  • The Economist as Engineer, by Al Roth, in which he advocates economics should de-emphasize being science, instead it should focus more on problem solving.


On Cliometrics (combining economic history with econometrics)


On Neuroeconomics

On Economics as Policy Science