Answer to Question #71954 in Economics of Enterprise for JONATHAN AMEH
I was ask to give Five reason why economics is considered as science and social science subject
Economics is a science, because:
1) While economists may not be close to solving the big picture, "macro" issues with the economy, they have had considerable success with empirically testing "micro" solutions.
2) Just because economists disagree does not mean that economics is a "fake" science. Economists today are approaching problems using an empirical, scientific method.
3) "Big data" has also helped, as economists now have access to millions of data points which enables them to isolate causal relationships.
4) Economics is a science because it can be approached scientifically, and its theories can be tested.
5) However, economists aren't scientists because most of them are too politically polarized to view their findings objectively.
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