Why is economics classed as a social science?

Question

I have always found that extremely wierd.

Answer 1

" OMG it's a run on the stock Market ... SELL NOW before it crashes !!!"

Macro:
If you saw this on the news, you might react because of the "SOCIAL panic". Economists need a foundation of how the society as a whole reacts to changes in the economy. War, Snow storms, and even Anna Nicole can change the way a whole SOCIETY feels - influencing how they spend.

Additionally "Economies move in cycles" similar to a human life. Yes, they're born, mature, and die with the majority of the social class who make them up. What does this mean? It means the largest numbers of people in the Western Cultures (W. Europe & USA) are the "Baby-Boomers". What they do socially will give us a big overall picture about the death of their economy (socialism) and birth of a new economy (most likely communism).

The Cencus allows us to gather information on a society and calculate who's the largest group of people. (Age, race, income, education, ect) Then economists can forecast how these groups of people will react to changes in the market. This is how we've determined that the "Baby Boomers" form an "Inverted Pyrimid" for age groups.

Micro:
Supply and Demand. Supply can be controlled scientifically. Managers can say, produce more or stop production. However, the flip side is that marketers cannot definitively say, "Buy more 'cas we boo-boo'ed" --- or "You don't want our product 'cas we didn't make enough".

Demand is "Social". Kids want to wear "Nike" because they favorite sports dude wears 'em or their best friend wears them. Why? Well, it's social responce.

Answer 2

Economics is classed as social science because it makes use of theories, mathematics and some other scientific assumptions in arriving at solution to social problems.

Answer 3

Because its dependent on society to exist; no society, no trade, no economics.