Human sciences- Andrea

Economics is the science that studies resources, wealth creation, and the production, distribution, and consumption of goods and services, in order to meet human needs. It is a human science because their laws are empirical, this means that in order to proove each graph or data given in economic articles, it requires to have someone analyze it and also the fact that economic laws are empirical menas that they are based on experience and observarion just as any other science. Furthermore, it oversees analyzing, describing and interpreting the behavior of human beings in the economic environment.

Economics as a social and human science, is based on the study of human behavior before the relationship that exists between ends and scarce means. The main goal of studying economics is to study the correct distribution of scarce resources to satisfy the needs of the human being. In other words, it analyzes the relationship between the available resources, which are limited in nature, and the needs, which are unlimited, although hierarchical.

Some of the problems that studying economics can face are that the crises that suffer the strongest complications in the world affect all others, and all others are affected by society in all its forms: taxes, interest rates, salary developments, credits, etc. The less fiscal crisis in the stronger strategies, the more stability not only economic, but also social. So if there is a mistake in economic data or graphs it doesn’t only affect the economy of one country, but it can affect the economy of other countries that have borders or economic trades with the country that is giving wrong data or information. Therefore, in order to solve this problem, people need to be truthful and check for mistakes in the data and information that they are putting in articles.In my opinion economics is indeed a human science and it is scientific because all sciences are based on prove and theory and economics is also based on graphs and given data.

One thought on “Human sciences- Andrea”

  1. Andrea, what you say makes sense, as far as it goes. But I think you should consider two points in particular. First, the use of models in economics. The models are based on assumptions; how valid are the assumptions. They also require reducing the number of variables, as compared with all the variables that exist in the real world. Does that reduction increase the chances of error? Second, it often seems that economists with one set of political beliefs produce one set of economic ideas, whereas economists with different political views produce different economic analyses, predictions, and diagnoses. That does not sound scientific. Mr. Gardner will have some interesting thoughts on these questions, and may be able to point out other areas in which the scientific basis of economics is questionable.

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