/sci/ - Science & Math

> hating on economics
> wow
> so edgy
> so physics
> make room, physics going on
> wow, so real science

If you think economics is bullshit to begin with, then you have little to no grasp of what economics is and what it does in terms of scientific application.

Physics, biology, chemistry are natural sciences that describe the way the Universe and nature work. Economics and law are social sciences that describe how a man-made system works and help it in its development.

Economics use statistics and econometrics to give us general models of how markets and individuals on those markets behave. A big part of that is random and/or complex to the point of being close to impossible to model correctly - thus a lot of different views and a lot of different schools (Keynes, Smith, Neo-Classical, Austrian, etc., etc., etc.).

It's not the case with this year's Nobel Prize Laureates, however - Shiller described the way markets behave in the long run (approaching efficiency), Fama focused on the short-term (mostly random walk), Hansen developed a method to combine both those views and describe them as a single model.

> 2013
> believing press headlines
> /sci/

Hey /sci/. Got a question for you.

>Do you consider Economics to be related to science and/or math?

Also, what kind of jobs could I be looking at that pays decently if I were to major in economics?