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The branch of philosophy that studies the origin,

nature, methods, validity, and limits of human knowledge. How knowledge is relates to truth, belief, and justification The means of production of knowledge Skepticism about different knowledge claims

A priori is knowledge that is known independently of

experience (that is, it is non-empirical, or arrived at beforehand) A posteriori is knowledge that is known by experience (that is, it is empirical, or arrived at afterward).

Empiricism - A role of experience, especially

experience based on perceptual observations by the five senses. Rationalism - A knowledge acquired by intuition or is innate Constructivism - All knowledge is "constructed" in as much as it is contingent on convention, human perception, and social experience

Is a type of philosophy or study that uses broad

concepts to help define reality and our understanding of it. Studies generally seek to explain inherent or universal elements of reality which are not easily discovered or experienced in our everyday life. it is concerned with explaining the features of reality that exist beyond the physical world and our immediate senses. therefore, uses logic based on the meaning of human terms, rather than on a logic tied to human sense perception of the objective world.

Expertise, and skills acquired by a person through

experience or education; the theoretical or practical understanding of a subject; what is known in a particular field or in total; facts and information; or awareness or familiarity gained by experience of a fact or situation

Justified an ill person with no medical training, but a generally

optimistic attitude, might believe that they will recover from their illness quickly. True a person believes that a particular bridge is safe enough to support them, and attempts to cross it; unfortunately, the bridge collapses under their weight Belief to believe that the sky is blue is to think that the proposition "The sky is blue" is true. Knowledge entails belief, so the statement, "I know the sky is blue, but I don't believe it", is self-contradictory.

knowledge is the means of science. Science gives us the tools (accumulated knowledge) with

which to do research.
The accumulated knowledge, the result of the process of

discovery and confirmation, is typically grouped into categories of learning including economics which we identify as disciplines or areas of study.
and research adds to the accumulated body of reliable


The two are symbiotic:

- Research draws on the body of accumulated knowledge as an integral part of its process - and the accumulated knowledge is expanded through the research process.

Research is designed to generate new, reliable

knowledge. The primary vehicle for achieving that reliable knowledge is science. Science is organized accumulation of systematic (reliable) knowledge for the purpose of intelligent explanation/prediction. (Williams, 1984)

We can break the sciences into :

i. the physical sciences ( e.g chemistry, biology, physics) ii. the social sciences (economics, sociology, anthropology, etc.) the distinction being that the physical sciences are concerned with things while the social sciences are concerned with people.

Its methods and results are subject to public scrutiny

via publication. The results it accepts as valid are those that are reproducible. Data are collected empirically, that is, scientists gain information by going to the world and checking for themselves.


Deductive reasoning works from the "general" to the "specific". This is also called a "top-down" approach. The deductive reasoning works as follows:

think of a theory about topic

and then narrow it down to specific hypothesis (hypothesis that we test or can test).

Narrow down further if we would like to collect observations for hypothesis (note that we collect observations to accept or reject hypothesis and the reason we do that is to confirm or refute our original theory).

confirmation of the theory





Deductive reasoning

An Inductive reasoning works the other way around, it

works from observation (or observations) works toward generalizations and theories. This is also called a bottom-up approach. The inductive reasoning works as follows:

Inductive reason starts from specific observations

look for patterns (or no patterns), regularities (or irregularities)

formulate hypothesis that we could work with

finally ended up developing general theories or drawing conclusion





Inductive reasoning

Is the philosophical question of wheter induction

reasoning leads to knowledge. There is logic in induction, but it relies on premises. The problem is :
Asking the wong question Inductively obtained generalization are almost always

somewhat tentative, we can seldom make absolutely inarguable deductions.

In logic, a form of deductive reasoning consisting of and a major premise, a minor a premise and a conclusion. Categorical syllogism is a three part of statemet or propositions that include a amajor premise, a minor premise and a conclusion. Deduction is traditionally illustrated with a syllogism. Major p : all books from a store are new Minor p : three books are from a store Conclusion: therefore, thses books are new To be sound, asyllogism must be both logical valid and true

Hypothetical syllogims : the major premise presentation uncertain condition (if A then B) or a problem (either A or B) which must the be properly resolved by the minor premise so that a valid conclusion can follow. Hypothetical syllogims is one whose major premise is a hypothetical preposition and the minor premise and conclusion are a categorical prepositions.

Observation consisting of receiving knowledge of the outside world through the senses, or the recording of data using scientific instruments. The term may also refer to any data collected during this activity. An observation also refer to any data collected during this activity and the way you look at things or when you look at something.

derived from the Latin : Factum

Facts is something that has really occurred or is

actually the case. Scientific facts are verified by repeatable experiments.

a general idea derived from spesific instance or occurances a cognitive unit of meaning an abstract idea a mental symbol unit of knowledge that associated with a corresponding representation in a language r symbology

a aset of plan, representation or description that explain an object, system or concept in form of idealization or simplification a simplified representation used to explain the workings of a real word system or event can be expressed as physic model, type or design and mathematic function

a collection of concept, including abstraction of observable phenomena expressed as quantifiable properties, together with rules that express relationships between observation of such concepts. a scientific theory is constructed to conform to available empirical data about such observations, and is put forth as a pinciple or body of principles for explaining a class of phenomena. Theory consists of defined variables and the relations between them, and any actual situation then described by the values adopted by the variables.

a system of rules and guidelines which are enforced through social institution to govern behavior It shapes politics, economics and society in numerous ways and serves as a social mediator of relations between people.

Values are principles, standards, or qualities you

consider worthwhile or desirable. Values will vary greatly from person to person. Your values will depend on your personal judgment, outlook, upbringing, and a variety of other factors.

Economic is the social science that analyze the production, distribution and consumption of goods and services Microeconomic : examines the behaviour of basic element in the economy, including markets and agents such as consumer, firms, buyer and seller Macroeconomic addresses issues affecting an entire economy including unemployment, inflation, economic growth,monetary and fiscal policy