What are the scientific method that Economists use
What are the scientific method that Economists use to establish theories, laws, and principles?
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The scientific method that Economists use to establish theories, laws, and principles are:
a. The observation of facts (real data).
b. The formulations of explanations of cause and effect relationships (hypotheses) based upon the facts.
c. The testing of the hypotheses.
d. The acceptance, reject, or modification of the hypotheses.
The initial “professional” university professors who taught economic concepts like academic subjects, those were: (1) cosmologists. (2) moral philosophers. (3) socio-biologists. (4) natural historians (5) logicians. (6) mathematicians. (7)
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