Why is Economics considered a Social Science?

Question

i was just wondering..since it's a topic in one of our subjects..and it got me curious. hehe

Answer 1

Economics is the science of how people make choices under conditions of scarcity.  Economics can provide you no information if you have an unbounded set of choices, however, even Donald Trump at an all you can eat buffet has limited stomach space.  It is a science like meteorology rather than chemistry.  You cannot take entire societies and run an experiment on them anymore than you can take a hurricane and rewind it and try something different to see what happens.  It depends primarily upon what are called "natural experiments," where people do what they are going to do anyway, but you observe data on their behavior either surreptitiously, through natural data generating processes like tax records, or through event studies.  It is a science because it models the world, makes predictions and test the quality of the models.  It uses ordinary falsification methods that the other sciences use, but generally cannot engage in experimentation either because of ethical issues, or because  people behave differently in simulated conditions rather than real conditions.

Answer 2

I think because there is a strong component of human behavior involved

Answer 3

Well unlike phyical sciences the force underlying economics is human behavior. The study of human behavior is social science