How Is Economics like a Science?


Economics is like a science because it actually is a science. Economics is sometimes considered to be a social science. An economist is a person who takes data about the economy and produces a hypothesis regarding the future of that economy. The economist will then do experiments or follow trends to try and predict what will happen with that economy in the future. This is similar to research and prediction in many sciences that are considered 'hard sciences.'
Q&A Related to "How Is Economics like a Science?"
Scientific theories identify generally applicable rules that are able to predict and explain observations in the world. According to the Stanford Encyclopedia of Philosophy (SEP)
Because it is a social science.
We are. not. currently in recession, as you know this would constitute two consecutive quarters of zero GDP growth and although the numbers are slowing, (in UK 0.2% down from 0.5%
It's a "social" science instead of a real science because it's like meteorology - leading economists can explain things after they happen, but they have no clue how to predict
Explore this Topic
The field of economics uses scientific methodology to unveil truths about its nature. Economists often perform experiments and use scientific tools for crafting ...
Economics is defined as a social science branch that studies or researches on the needs of human beings and what satisfies them. Therefore, economic choices have ...
In the 1970's, Liverpool was in an economic crisis as many docks were closed. There was high rate of unemployment as well as many people losing their jobs. Strikes ...
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014