Positive or normative Economics:There is no requirement to ask the question whether economics is a positive or negative science. Rather than that, we might look at it as a subject who has two parts, namely positive and normative economics. Since Asimakopulos positions it, “positive economics can be stated as a body of systematized knowledge regarding what is, while normative economics tries to build up criteria for what ought to be”Positive economics is mostly concerned with the explanation of economic events and it tries to formulate hypothesis to elucidate them. However in normative economics, we provide more significance to ethical judgments. Normative economics is anxious with the ideal instead of the real situations.Statements on economics might be classified into positive and normative statements. When there is disagreement over a statement, we can discover out whether it is true or false by confirming facts. However when there is disagreement over a normative statement, we can’t settle the issue simply by appealing to facts. The questions, “what are the policies that Government must follow to decrease unemployment? What must it do to decrease inflation? Are all questions exists in positive economics. On other hand, when we ask the question, “should the government be more worried concerning unemployment than inflation?”, then it is a normative solitary. Economists such as Lionel Robbins believe that we should leave normative questions, like what ought to be completed to political and moral philosophy and that we should study and analyze only positive questions. Robbins states that an economist as an economist contains no business to pronounce judgments on the ethical aspects of economic question. He feels that when normative considerations are taken into account, economics can’t be an exact science. However many economists vary from this view. They suppose that as economics as a social science has to encourage human well-being, we have to consider ethical issues in economics. At this time we have a new and significant branch of economics termed as “welfare economics”.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Nature and Scope of Economics help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Nature and Scope of Economics, project ideas and tutorials. We provide email based Nature and Scope of Economics help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Nature and Scope of Economics. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of the Economics assignments, which may help you to solve your complex issues of Nature and Scope of Economics. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!