Is Economics an Art Because It Blends Objective and Subjective Analysis

Master of Finance & Economical Development

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xviii Answers

Microeconomics are positive economics .
Positive, as opposed to normative economics,  tries to draw and explain economical phenomena.
Normative economics tries to give policy communication, or takes political stance regarding what is correct and what is wrong

my name is Abdulkadir Mohamed ALI

Main of fınance and economic evolution

sub: managerial economic science

Normative economics is the economic science of how things should be
Microeconomics is normative Science
Microeconomics is the study of what is likely to happen (tendencies) when individuals make choices in response to changes in incentives, prices, resources, and/or methods of production
microeconomics is to bear rationally - which amounts to the imperative to use the about efficient means to achieve a given set of ends - and also that the ends themselves are not contestable. Surely, other social scientists contend, the whole thing of normative ethics

My name is Jimcale Ga'al, I'm one of the Students of Financial and Economic development, If I Endeavor my best the answer of the Question, Is Microeconomics positive or normative? Microeconomics is positive which based on scientific method, it tries to describe facts and explicate Various Economic conditions, it has bachelor evidence, objective explanation and rejection of theory. it analyses the problem of economics and examine the causes of issues. and then microeconomics positive based on knowledge directly. while microeconomics also is normative. it based on aspects, thinks,opinion, it makes value judgement about behavior and evaluative standard. Normative is phenomena in Human being societies of designating some actions. for example, which things are good or bad and which actions are correct or wrong. then Microeconomics deals with both positive and normative.

My Name is Ahmed Farah Salah

MF&ED

Subject: Microeconomic Analysis

If I participate our give-and-take the Question is the Microeconomics is positive or normative scientific discipline?

The Reply of this Question are:

Microeconomics is positive economic science in their scientific format.

On other hands to discuss about what Positive and Normative Economic are explained in that points given below:-

Positive economic science is related to the analysis which is limited to cause and outcome human relationship between variables.

Information technology explains people about how the economy of the country operates.

Positive economics is alternatively known as pure economics or descriptive economic science.

Positive economics is descriptive.

normative economics aims at examining real economical events from the moral and ethical indicate of view. It is used to gauge whether the economical events are desirable or non.

Normative economics is prescriptive.

Microeconomics is both positive and normative science:

microeconomics is positive in terms of its scientific format, it describes and explains various economic phenomena which is based on facts that can exist approved or not, microeconomics tin can also exist described as normative considering it deals with the value and fairness of the economy, information technology tries to decide people'due south desirability regarding unlike economic programs and conditions. On the other manus, normative sense means a standard for evaluating or making judgments about the behavior or outcomes.

Since theories in microeconomics can be tested using scientific methods after properly gathering the necessary facts and data, it's definitely correct to consider information technology a positive scientific discipline. However, when individual practitioners impose their personal value judgements about how people should  carry in specific types of economic situations, it then becomes a normative scientific discipline.
Normative science is the try to apply science to normative questions, for example, how long should we stay quarantined? I don't recall this concept is very well named because normative science can't be science. Yous can brand upstanding decisions based on scientific conclusions only those ethical decisions volition always draw on ethical premises (premises near what would be right or wrong) which are not role of science. For case science tin can't tell u.s. that nosotros don't desire people to die or that we do want the economy to be healthy. Fifty-fifty such obvious ethical premises are not part of science in whatever sense.

Positive economics

Positive economics is the branch of economics that concerns the description and explanation of economic phenomena It focuses on facts and cause-and-effect behavioral relationships and includes the evolution and testing of economic theories.  An earlier term was value-free  economics. Positive economics equally scientific discipline, concerns analysis of economic behavior. Positive economic science concerns what is. To illustrate, an instance of a positive economic statement is as follows: "The unemployment rate in French republic is higher than that in the U.s.." Another is: "An increment in government spending would lower the unemployment rate." Either of these is potentially falsifiable. In contrast, a normative statement is, for example, "Government spending should be increased."

Normative economic science

Normative economics (every bit opposed to positive economics) is a function of economics that is objective fairness or what the outcome of the economy or goals of public policy ought to exist.

Economists commonly prefer to distinguish normative economics from positive economic science. Many normative (value) judgments, however, are held conditionally, to be given upward if facts or knowledge of facts changes, so that a alter of values may be purely scientific.

On the other mitt, welfare economist Amartya Sen distinguishes basic judgements, which exercise not depend on such knowledge, from nonbasic judgments, which exercise. He finds it interesting to notation that "no judgments are demonstrably basic" while some value judgments may be shown to be nonbasic. This leaves open the possibility of fruitful scientific discussion of value judgments.

Positive and normative economics are ofttimes synthesized in the style of applied idealism. In this subject field, sometimes chosen the "art of economic science," positive economic science is utilized as a practical tool for achieving normative objectives.

 Economic is positive science

Positive economic science is the branch of economics that concerns the description and explanation of economic phenomena, Positive economics is concerned with the development and testing of positive statements most the globe that are objective and verifiable

To illustrate, an case of a positive economic statement is as follows: "An increment in regime spending would lower the unemployment rate." Either of these is potentially falsifiable

For anyone working in a management position it is helpful to distinguish between positive and normative statements. Managers and the people they work with, or are advised past, are probable to make liberal use of both, although normative statements may sometimes be disguised equally positive statements. Whilst both types of argument may deserve attention, better direction decisions are probable to result when the distinction between them is recognized.

Normative economic science is a perspective on economics that reflects normative, or ideologically prescriptive, judgments toward economic development, investment projects, statements, and scenarios. Different positive economics, which relies on objective information analysis, normative economics heavily concerns itself with value judgments and statements of "what ought to be" rather than facts based on cause-and-result statements.

Normative statements derive from an opinion or a point of view. Thus the words 'should', 'ought to' or 'it is better to' frequently occur. The validity of normative statements can never be tested. Positive statements, on the other paw, can be tested, at least in theory, if non e'er in practice,Normative economic science expresses ideological judgments almost what may outcome in economical activity if public policy changes are made

(Then micro economics is positive scientific discipline)

Hello, Lectures and students My'south Proper noun Ahmed  Abdirahman Nor. If I participate our word Microeconomics is positive or normative science?

positive is objective and only Describes about fact, While Normative science is Subjective and opinion.

so, Microeconomics is the study how Individuals, firms make their decisions at the pocket-sized calibration.

So  We Can say Micro economics is Both Positive and Normative Science, as we know most Economist or consultants apply normative sentence .

#Positive Economics

Positive economics is objective and fact-based where the statements are precise, descriptive, and clearly measurable.

Positive economics is a stream of economics that focuses on the description, quantification, and caption of economic developments, expectations, and associated phenomena

#Normative Economics

Normative economics is subjective and value-based, originating from personal perspectives, feelings, or opinions involved in the determination-making process.

Normative economics statements are rigid and prescriptive in nature

Abdishakur Osman Nor Shakra

Question:

Is Microeconomics a Positive Science or Normative Scientific discipline?

Answers:

1- #Microeconomic

two- #Positive Scientific discipline

3- #Normative Science

Microeconomics

Microeconomics is the report of Individuals, households and firms' beliefs in decision making and allocation of resource

#Positive Economic

Positive economics is a role of economics that contemplates the caption and elucidation of economic occurrence.

#Normative Economics

Normative economics is an outlook on economic science that contemplates normative or ideologically dictatorial, discernments toward economical enhancement, statements, investment projects and framework.

So

-Microeconomics is positive economics in their scientific format.

-Normative economics tries to give policy advice, or takes political stance regarding what is right and what is wrong

Hassan Mohamud Ahmed "Barsane"

1) a. Microeconomics is both apositive and normative science:

Microoecomics as apositive scientific discipline:

seeks to analyse and explain economic phenomena every bit they are.

it seeks to respond the questions"

'what is' why it is and what will be .....

Eg: what is the tendency in car prices in India?

why machine prices stable despite increase in demand for cars ; what volition be demand for cars if price go up?

b. Microeconomics as normative science deals with the normative questions  `´ what ought to be`´ what is or what happens in the market` may not desirable or in the interest of the society.

Eg, production and sale of harmful goods like booze and cigarettes may exist a very profitable business. Just is production and sale  of these goods desirable for gild? is anormative question

Miceconomics is a positive scientific discipline because a  Positive economic science uses objective analysis in the written report of economics. Microecomics analyse and explain economic phenomena, it also determine and observe facts that can be examined and tested.

while normative economics focuses on the value of economic fairness or what the economy should be

Microeconomics  are positive economics in their scientific format,  it describe and explain economical phenomena. information technology tin be analyse the facts of economic to make up one's mind the correctness of a issue .
whereas normative economics make value judgments about what should be.

Yes are both  positive science and normative science

in Microeconomics every bit  positive scientific discipline is toseeks to analyse and explain economic phenomena as they stand up as  a positive science,microeconomics seeks to reply such questions as "what is"."why it is" and "what volition be"

in  normative science  is to to seek to answer the normative question on the footing the certain predetermined norms and social value'

Positive economic science is the economic science of how things actually are - or the "is".

Normative economics is the economic science of how things should be - or the "ought".

So, is microeconomics a science of the "is" or a science of the "ought"?

If you look at the microeconomics is a positive economics.

Your Answer

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Source: https://www.accord.edu.so/forum/master-of-finance-economic-development-11/question/is-microeconomics-a-positive-science-or-normative-science-kindly-discuss-33

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