why is econimics not a science?

Question

its a question my economics teacher asked us... and i simply can't get an answer!!!

Answer 1

it is said that economics is both a science n a art..it is a science coz economist use scientific method in their analysis..the basic object of every science is that it tries to establish realtionship between cause n effect..economist do the same...the study human behavior which people adopt in producing,exchanging ans consuming of good ans servies..they try to explain how people make choises to satisfy heir wants with limited resourses

however ,economis has limitation in its laws n predictions about future course of events..laws arenot exact and predictions not as accurate as in the case of some sciences like phy n chem...it is for this limitation that some people dont treat economics as science .this confusion is removed if one remembers that scineces r of two types..(A)physical science (B)socail science
sciences like phy n chem deal with non living dead matter or some natural phenomenon and have the facility of controlled experiments.on the other hand social science study human behaviour in socity....as huamn have free will and changing attitudde at diffrent occasions,the principles(theory) formulated are in the nature of generalization...Economis is a scince,no doubt but its a socil science..so de nature of its principles is somewt diffrent 4m those of natural scinece...

science are also classified as (A) positive scince (B)normatice scinece..a postive scince only explains 'wt is' it studies the fact as they r.. a normatice science tells 'wt ought to be' it gives judegment abt right or wrong in an economic situatiob...economicts like robbins want to see economics only as positive science ..however most economist differ 4m his point of view...they regard economics both as positive as vell as normative

Answer 2

I don't know if it's not.

Science involves observation, postulation and testing. You observe what happens, postulate (form theories) as to why, and test those theories to determine if they are correct.

Economics observes human and systemic economic behavior, forms theories, but cannot test them directly. You can't create another economy and figure out what happens when you inject an imputed inflation rate - although you can experiment through stochastic models.

For this reason, economics tends to be considered somewhere between a behavioral science, a social science (as opposed to a natural science) and a branch of applied mathematics.

Answer 3

Econimics is a word "money" we lead and borrow is science of a trade to the things one to another

Answer 4

Economics IS a science.

It is a social science, not one of the "hard" sciences, like chemistry.

There are so many factors and variables involved, and intangibles, that is simply too vast and complex to be tidily quantified.

Answer 5

the variables that can change economical outcome just aren't of a science nature,such as war weather politics greed and the unpredictabilaty of man.

Answer 6

Economics can not be a science because you cannot do repeatable, controlled experiments.

Answer 7

Because you will not necessarily get the same answer twice given the same set of circumstances (getting the same answer is a hallmark of science).

Answer 8

It's not a science in the same way that "common sense" is not a science.

Answer 9

its based on logical reasoning, but the outcome cannot be certain.
weres science is a set of rules that are predictable through mathematics.

Answer 10

It is a set of theories, not a science.