Methodological aspects of current economic science

In an attempt to describe briefly the current state of development of the economic science, the present study aims to examine concisely some of the economic trends both in practice and in literature in the recent period.

The author has chosen as the starting point of this presentation probably the highest distinction in the economy – Nobel laureate in economics; taking as the criterion for classification subdomains of economic analysis, the first chapter presents a classification of this controversial and coveted distinction; this classification will serve as a basis for a broader discussion on current trends manifested in economic science, the latest economic theories, and even methodological controverses.

Thus, the second chapter of the book focuses on other issues which preoccupies economists since the mid-nineteenth century: empiricism in economics; this chapter aims to examine to what extent we can talk about size in empirical economics, to clarify what would be it, and to synthesize epistemological mainstream stated especially in the recent period.

Finally, the third chapter deals with a trend which, after the Second World War has grown particularly, reaching incredible proportions: using mathematical and statistical methods in economics; the chapter examines the views of supporters and opponents of these methods – which, without exaggeration, we can say that currently dominate the mainstream – highlighting some of their features and a number of advantages and disadvantages of their use.