IS ECONOMICS A SCIENCE?
Watch this video to find out!: https://www.youtube.com/watch?v=0oGzYmXiS9c
I would consider economics as a science. In economics there can be a lot of data set to predict the economic outcome of something. In class, we looked at graphs predicting the economic outcome of the US. This takes a lot of calculation and being aware of other outside influences to predict a certain economic outcome. There are also economic experiments that can be done which could also relate to human sciences. Many people may argue that it involves more math than science, but they are all interrelated and can lead from one to the other, needing each other to make sense. Economics may not fit in an exact science category but it can be involved in a lot of science experiments, practices, and more.
I like the video you included! I agree with you that economics are a science. I also agree with Mr. Irwin (from the video) that economics are a flawed science, in large part because people are complicated (gender/age/socioeconomic status and more could all play a role in people's economic choices). People can't be uncomplicated either, because putting people in a sterile lab condition with only one variable would be extremely unethical. Even if a sterile lab experiment could be performed, it probably wouldn't translate well into the real world.
ReplyDeleteI would also consider economics a science. First of all, your video seems credible and i would believe the speaker's viewpoint that economics is indeed a science. I personally argued that economics was a science because it involved numbers, formulas, uncertainties, and data analysis, much like any other science.
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