Economic excercise I
CHAPTER 2 Thinking like an economist Economist try to address their subject with a scientist`s objectivity.they approach the study of the economy in much the some say as a physicist approaches the study of matter andabiologist approaches the studt of file. They devise theories,collectdata,and them analyze these data in an attempt to verify or refute their theories. To beginners, it can seem odd to claim thateconomicsis a science.After all,oconomists do not work with test tubes or telescopes.The essence of science,however is the scientific method-the dispassionate development and testing of theories about how the word works. This method of iquary is as applicable to studying a nation`s economy as it is to studying the earth`s gravty or a species` evalution.As Albert Einstein once put it, “thewhole of scienceis nothing more that the refinement of everyday thinking”. A...