Week 1: Discussion Question 2
Grade: 15/15 (When combined with other DQ)
An Economist as a policy advisor has a larger picture view of
economics. This person will make judgments that are based on
scientific data, but these views are combined with the person’s
views on ethics, politics, and personal philosophy. The Economist
as a policy advisor wants to make the world a better place and looks to
influence decisions in such a way that improve conditions.
Economists as policy advisors will often disagree in their normative
statements, because their personal views will clash with one another.
An Economist as a scientist studies economics as a science. They
will develop economic theories, and using the scientific method, they
will gather data, test the theory, and come to conclusions. The
primary difficulty is that the economist cannot test his theories in a
lab and is left to gather information as the economic environment
permits. Often the scientist will use tools such as assumptions,
circular flow diagrams, and a production possibilities frontier, in
order to simplify a more complex idea to study particular economic
phenomena. Furthermore, Economic scientists will often specialize
in either micro or macro economics in order to evaluate more specific
or larger scale economic situations.
© Erik Smith 2005
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