Question

Explain how economists are both scientists and policymakers?​

Answer 1

Answer:

Economics makes use of both quantitative and qualitative knowledge. Any economic research is backed by an econometric model which paves way for the accuracy in data analysis. It follows a certain structure such as data collection followed by organization of data into econometric model and analysis. This makes economics a science. The results generated through this elaborate research highlight changes that are essential for the economy. These changes are brought through economic policies. Thus, economists are both, scientists and policymakers.

Explanation:

Answer 2

Explanation: Economists are both scientists and policymakers Economist is a scientist as they are able to develop and test the economic assumption and theories in an objective way through the scientific method of observation and using the theories. ... The circular flow of money and goods in an economy.