Economics - Other Social Sciences
Other Social Sciences
Other social sciences include history, law and psychology. All of them
deal with people and how they behave. Economics, being a social science
(unlike the natural sciences like physics and chemistry), is an inexact
science dealing with both positive issues  and normative issues .
Economics is divided into two inter-related studies - microeconomics and
macroeconomics. Microeconomics looks at parts of the economy, that is,
individual economic units, such as a particular firm and its price and
output decisions. Macroeconomics, on the other hand, examines the whole
economy. It studies economic variables such as unemployment in totality.
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