We explain what the so-called economic sciences are, and who uses them. Branches, objectives, importance and examples.
What are economic sciences?
Is called economic sciences or simply economy to the social science that studies the ways of organizing societies to satisfy their needs over time, through the set of goods and resources that are always scarce and finite.
In other words, it is the study of production, extraction, exchange, distribution and consumption of goods and services in a given society and time, as well as the contexts that accompany all economic activity, such as government, administration, society, finance, culture, etc. All areas in which economics has more or less applications.
We can say that the economy is interested in the different dynamics of the circulation of goods in society so it presents a very broad and diverse approach, which incorporates knowledge from different disciplines, such as psychology, sociology, accounting, philosophy, politics, law and mathematics.
Objectives of economic sciences
The fundamental objective of the economy is always improve the living conditions of societies through understanding their financial and consumer processes, which can thus become more efficient and democratic.
This involves, obviously, both an “experimental” economy, which pursues concrete solutions, and a more philosophical and historical one, which addresses the issue from a more general perspective.
Importance of economic sciences
The economy is one of the main fields of study of modern society as we have said, given the importance of the organization and control of productive dynamics in a world that promises to be increasingly complex from a financial and social perspective.
The Industrial Revolution of the 19th century and then the economic globalization of the late 20th century generated an important emphasis on economic sciences, given the need to think about methods of production and distribution of wealth in a world increasingly populated by human beings. humans.
Examples of economic sciences
Possible examples of economic sciences are each of its numerous applications, such as:
- Economic geography The study of the processes of extraction and commercialization of natural resources and raw materials, or of manufactured goods and services, from a geographical perspective.
- Political economy Study of the reciprocal relationships between financial market processes and the political, anthropological and social dynamics of a nation or region or of humanity.
- Business administration The discipline responsible for enhancing and understanding the dynamics of control and conduct of the productive processes of different human organizations, public or private.
- Philosophy of economics Branch of philosophy that studies the principles and moral aspects of economic activity, and proposes theories for its ethical and appropriate approach.
Types of economic sciences
There are important distinctions in economic sciences, which constitute specialized approaches to their knowledge, such as:
- Economic theory The study as a system of the economy, abstractly comparing its dynamics, philosophical principles and behavioral theories.
- Applied economics It seeks to use the tools of economics to solve specific problems in nations.
- Macroeconomy It studies the economy of nations and the entire globe, understanding it as a chain system that affects each other.
- Microeconomics It studies the performance of different economic actors, such as companies, the State, individuals, etc. on a scale below the nation.
- Normative economics It studies economic processes as a norm, that is, as “it should be.”
- Positive economy It studies economic processes as they currently are, that is, as they “are”.
Who uses economic sciences?
Economists are the ones who undertake the study of this knowledge and they handle the largest number of theories and references in the area. However, economics provides a fundamental service to other academic disciplines and analytical perspectives such as politics, history, administration, finance and even sociology.
The economic aspect is always one of the usual dimensions of analysis of human reality, as well as the cultural, historical or biological aspect. In fact, the Marxist school of philosophy, heir to the postulates of Karl Marx and his dialectical materialism, considers that economics is the elemental factor for the study of history since it would be mobilized towards change due to class struggle, that is, the tension between the strata of society to control the dynamics of production of goods and services at their convenience.
