Models

I think it is important that students understand assumptions, like the ceteris paribus condition, are made when modelling. I think this is important, because to be able to assess the implications of the outcome of a model, it is important to know its assumptions. From experience, I know we, teachers, spend ample time to discuss how prices are affected when other factors of demand, like income or the price of other goods change, but do we also discuss this from the perspective of assumptions being wrong?

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