Economics as a Social Science

Economics as a Social Science

Courses Info

Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes

Economics as a Social Science – Scitovsky’ Theory: proposed that Economics is a social science as it attempts to use scientific methods to analyse the behaviour of people within markets, firms and economies

The ‘Ceteris Paribus’ Assumption

  • A Latin phrase which refers to all ‘other things being equal’
  • When an effect is caused due to a change in one variable, the other variables are held constant and do not differ in value

The inability in economics to make scientific experiments

  • Economics is a social science and involves people, therefore it is impossible for economists to conduct lab experiments


Quick Fire Questions – Knowledge Check

  1. Explain what the Ceteris Paribus Assumption is (3 marks)
  2. Explain why Economics is considered a Social Science (3 marks)
  3. Explain why economists cannot conduct scientific lab experiments (2 marks)


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