<p>Well, I think all the traditional fields in philosophy have helped me understand economics: logic, metaphysics, epistemology, and ethics.</p>
<p>Both formal logic (symbolic logic) and informal logic (everyday arguments and how to avoid fallacies) has helped me think, well, logically, and critically about economic issues. What causes what, and what are some of the easiest mistakes made in economic reasoning? How to differentiate between a shift in quantity demanded and a shift in demand? Why is it that the price elasticity of demand for a large category of goods or services, such as food, is almost always lower than for an individual good or service, such as bagels?</p>
<p>Metaphysics, although seemingly removed from worldly events, leads me to inquire about such things as causation, what exists (and what doesn't), how we categorize things, etc. It develops critical thinking in a way similar to that of logic.</p>
<p>Epistemology is especially useful in not just theory, but applied economics. How do we know? Can we ever be certain of our knowledge? Nicholas Nassim Taleb, a mathematical trader who writes on the role of uncertainty in business and investment, is involved in this task. What do we do in the face of uncertainty? The knowledge we have or lack thereof is a major theme in economics--the idea of information asymmetry and job signaling, for example. Understanding the theory of knowledge from a philosophical perspective certainly helps understanding much of economics, even if it is not essential.</p>
<p>Ethics, meanwhile, is relevant in normative economics, but also the foundations or nature of economic systems, as well as the concept of utility. When I was reading John Stuart Mill's Utilitarianism, for example, I couldn't help but see the connections between his idea of the greatest happiness or greatest good, and the idea of utility in economics. Ethics applies ostensibly too in areas such as corporate/business ethics, and helps explain the importance of having law and order as a prerequisite to a free market.</p>
<p>Granted, I don't think anything I learn in philosophy is absolutely essential to understanding economics. I'm saying (merely) that philosophy (and other disciplines) are not as unrelated to other disciplines as the case seems to be on the surface. For me at least, and surely others, philosophy has contributed to my understanding of economics, as well as of other disciplines.</p>