Opinion on Economics: Social Science Coolest & Most Popular

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In summary, the conversation discusses the speaker's opinion on economics as the "coolest" social science and the comparison of its scientific nature to thermodynamics. It is mentioned that economics is an underdeveloped field, making it more interesting, and is compared to physics before relativity and quantum theory. The speaker also states that economics is considered to be one of the most challenging social sciences.
  • #1
stjimmy
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Hey
What is your opinion on economics
i think it is the coolest of the social sciences but i always wondered how scientifc it was and as a side note from your experince what is it like to study economics? from all i know it is definately one of the most populur and challenging of the social sciences and perhaps all the things one could study
 
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  • #2
Economics is about where thermodynamics was 100 years ago. They are just beginning to peek beyond equilibrium. All their rigor is kind of futile because the economy, which is of course just an aspect of society, is a nonlinear system far from equilibrium.
 
  • #3
Hey i think that economics is very underdevolped but doesn't that make it more interesting ?like physics before realativy and quantum theory?
right i think that econ is the most hard or the so-called "soft" sciences
 

What is economics?

Economics is a social science that studies how individuals, businesses, governments, and societies make choices about how to use limited resources to fulfill their unlimited wants and needs.

Why is economics considered a social science?

Economics is considered a social science because it uses scientific methods to study human behavior and interactions, particularly in the realm of production, distribution, and consumption of goods and services.

What makes economics a cool subject?

Economics is a cool subject because it allows us to understand and analyze the complex systems that govern our society, such as supply and demand, market forces, and economic policies. It also provides insights into how individuals and societies make decisions and allocate resources.

What are the most popular fields within economics?

The most popular fields within economics include microeconomics, which focuses on individual economic behavior and decision-making, and macroeconomics, which examines the broader economy and its overall performance. Other popular fields include international economics, labor economics, and behavioral economics.

How does economics impact our daily lives?

Economics has a significant impact on our daily lives as it affects the prices of goods and services we consume, the availability of jobs, and the overall state of the economy. It also plays a role in shaping government policies and decisions that can have a direct impact on our lives, such as taxation, trade, and healthcare.

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