Final answer:
Empiricism and rationalism are the two foundational epistemological schools that form the basis of modern science, emphasizing experience and reason respectively.
Step-by-step explanation:
The two epistemological schools of thought that laid the foundation for modern science and scientific method are empiricism and rationalism. Empiricism, as championed by thinkers like Bacon, Locke, Berkeley, Hume, and Mill, posits that knowledge comes from sensory experience and that all concepts originate in experience.
Rationalism, on the other hand, advocated by philosophers such as René Descartes, suggests that reason is the primary source of all knowledge and that certain principles are innate rather than learned from experience. Together, these two approaches contribute to the development of scientific inquiry, blending observation and experimentation with reasoning and deduction.