Another way to look at the science

Another way to look at the science of economics is to ask, ‘what’s it
good for?’ Economists don’t all agree on the answer to this question. Some
practise positive economics. They study economic data and try to explain the
behavior of the economy. They also try to guess economic changes before
they happen. Other practice normative economics. They suggest how to
improve the economy. Positive economists say, «this is how it is». Normative
economists say, «we should…»
5. So what do economists do? Mainly, they do three things: collect data,
create economic models and formulate theories. Data collection can include
facts and figures about almost anything, from birth rates to coffee production.
Economic models show relationships between these different data. For
example, the relationship between the money people earn and
unemployment. From this information, economists try to make theories
which explain why the economy works the way it does.