answersLogoWhite

0

Economics is theory or science

Updated: 8/22/2023
User Avatar

Wiki User

8y ago

Best Answer

Economics combines sciences like math which give the same results each time (interest rates, depreciation, etc.) with empirical observations of how things have gone in the past to predict the furture.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar
More answers
User Avatar

Wiki User

11y ago

Economics is a socialscience, can also be called a dismalscience. This is because you cannot run experiments to prove theories as this would damage economies. You can also look at university courses for an answer some of which graduate as a humanity with others graduate as ascience(show by the colour of your sash) thedestitution is the content of the course. A science course contains a lot of maths while a non-sciencecontains mostlytheoryand is coupled with schools such asphilosophyand politics.


The short answer is yes economics is regarded as a science.

This answer is:
User Avatar

User Avatar

Wiki User

8y ago

Both a theory and a social science.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Economics is theory or science
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Is economics a social science or human science?

economics is a social science


How does economics evolve as a science?

how does economics evolve as a science?


Should economics become a science?

Economics is a science.


Why does the economics is social science?

economics is a science of scarcity


Can economics be consider a science?

Yes, economics can be considered a science.


Is economics is a positive science or a normative science?

Economics aims to be a positive science since, by definition, science is a positive enterprise. Normative evaluation necessarily implies valuation of specific types of outcomes over others, which would invalidate typical economic analysis by defending theory by using philosophy, especially ethics, instead of mathematics, statistics, and logic. While normative evaluation is important in the application of economics, especially in the field of social welfare, it is considered taboo by economists to establish economic theory, rationally or empirically, on normative science.


Is economics is classified as a social science?

true


Is economics a science an art or social science explain?

Economics is a social science because it is a field of study dealing with society and human behavior.


What is economics a social or political science?

Economics is not political science. However, the fields can have some overlap like political economy. Lastly, economics and political science are both a social science.


Why is that economics is not a natural science?

Economics does not describe a state of nature, therefore it is not a natural science.


What is the Difference between economics and engineering economics?

Economics is the theory of how to best divide resources up between between agents to maximize their utility. Engineering economics would be the theory of how to design a product in the most cost-efficient and reliable way.


Scope of micro and macro economics?

theory of income and employment: theory of general price level and inflation theory of economics macro theory of distribution' theory of international trade