I've been studying finance thruout my undergrad. study, and the first few core courses I have to pass are all economics related. I didn't know why. I then had been enrolled in a MA program in Economics, and graduated. I saw all the finance guys had to take Econ courses as well, I didn't know why by then either. Now I'm in a PhD program in Economics, things have been going wilder and crazier, the only thing that doesn't change is my feeling of this subject being a COMPLETE pseudoscience. The more you deal with it, the stronger the feeling becomes, ridiculous fundamentals of economics such as "rational hehaviors of consumers", "econometrics greatly rely on continuous quantities", "homothetic, quasi-concavity of utility, which incurs the whole demand theory , hence the fundamentals of Microeconomics"..... all of these bother me, since they conflict and severely contradict our simple realities, "winnowing out" is how economics theories were born, you try to simulate the real life into economics models, if your theory doesn't explain the reality, its abandoned, c'mon folks, real science doesn't do that.... In another hand, the fact that the united states and the rest of world have governments use this type of science to regulate all of us proves we are all PATHETIC BASTARDS.
Economics - 1 Answers
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Econ is a social science. It's basically about trying to find out how and why people be have they do with resources like money and capital and how to efficiently use them. If fairly difficult to quantify something like that. I mean there have been many schools of thought (Chicago, Keynesian, Austrian, et al) over the years to explain why people react the way the do some work better than others. It's not like physics where there is a unifying law that controls everything. You might have to do some research from their point of view and see why people like Keynes, or Friedman came up with their theories and their rationalities.
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