Realism and the wave-function

Realism -- the idea that the concepts in physical theories refer to 'things' existing in the real world -- is introduced as a tool to analyze the status of the wave-function. Although the physical entities are recognized by the existence of invariant quantities, examples from classical and quantum physics suggest that not all the theoretical terms refer to the entities: some terms refer to properties of the entities, and some terms have only an epistemic function. In particular, it is argued that the wave-function may be written in terms of classical non-referring and epistemic terms. The implications for realist interpretations of quantum mechanics and on the teaching of quantum physics are examined.