Why economics considered to be a science?

Answer 1

Science can be defined as knowledge gained by observing and testing facts. In economics, economists observe various economic events and try to find patterns and form theories about the events, and then they test their theories before they apply them.

Answer 2

"Why economics considered to be a science?" I believe the people who study economics employ the scientific and mathematical methods to improve and understand the problems and success' of our society.

More importantly, the National Science Foundation, http://www.nsf.gov/sbe/ses/, lists Economics under "Social and Economic Sciences". I would assume most countries do the same.

From what I have heard, Economics can be very challenging. Remember the movie called "A Beautiful Mind".

Answer 3

Economics is not a pure science. It contains some elements of both science and art. In particular, one of the requirements of a science is that it can perform predictions in areas not yet experienced. And that these predictions can be tested for accuracy.

This is not a common event in economics, otherwise all the Stock Market punters would be rich.

Answer 4

The economics is a social science because it is responsible for analyzing, describing and interpreting the behavior of human beings in the economic environment. In addition, this science predicts the possible facts in which the economy It affects various aspects of society.

Answer 5

Economics is a social science. It is not an exact science in the truest sense.

Answer 6

It means that economic laws are derived from observation (of economies) and that future observations can overturn current apparent economic laws.

Answer 7

Probably to inflate it, but proper economic analysis is carried out with a broadly scientific approach, and it is mainly heavy-duty financial and statistical arithmetic.