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Please answer the following questions 1. What you think economists should be focusing on when they...

Please answer the following questions

1. What you think economists should be focusing on when they study "economics"?

2. What methods of study, verification, dissemination, and teaching are appropriate?  

3. How do we judge economic ideas and models in an objective manner?  

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Answer #1

1. Economists must focus on applying economic principles to aolve problems in the economy like poverty, unemployment and inflation. This has to be done by understanding the link between theoretical economics and it's policy implications.

2. The study of economics through practical use of economic data and scientific tools is necessary. The theory must be taught in a manner such that it can be applied to the real life data using empirical tools. Teaching must involve active participation of students in analysis and interpretation of economic data.

3. In order to judge economic ideas and models in an objective manner, these ideas must be applied to data and tested using empirical tools. These tests can prove whether the models are valid or not.

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