normative economics

Normative economics — is that part of economics that expresses value judgments (normative judgments) about economic fairness or what the economy ought to be like or what goals of public policy ought to be.[1] It is common to distinguish normative economics ( what… …   Wikipedia

Normative Economics — A perspective on economics that incorporates subjectivity within its analyses. It is the study or presentation of what ought to be rather than what actually is. Normative economics deals heavily in value judgments and theoretical scenarios. It is …   Investment dictionary

normative economics — noun economic thought in which one applies moral beliefs, or judgment, claiming that an outcome is good or bad . For example this tax on cigarettes will be good because it will reduce smoking. Contrast with positive economics …   Wiktionary

Normative (disambiguation) — Normative in academic disciplines means relating to an ideal standard or model, and in particular a normative statement (or norm see below) is a statement that affirms how things should or ought to be, that is how to value them. Normative… …   Wikipedia

Normative — For other uses, see Normative (disambiguation). Normative has specialized contextual meanings in several academic disciplines. Generically, it means relating to an ideal standard or model.[1] In practice, it has strong connotations of relating to …   Wikipedia

economics — /ek euh nom iks, ee keuh /, n. 1. (used with a sing. v.) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. 2. (used with a pl. v.) financial considerations;… …   Universalium

Economics — This article is about the social science. For other uses, see Economics (disambiguation). For a topical guide to this subject, see Outline of economics. Economics …   Wikipedia

Normative statement — In economics, a normative statement expresses a value judgement about whether a situation is subjectively desirable or undesirable. The world would be a better place if the moon were made of green cheese is a normative statement because it… …   Wikipedia

Normative science — A normative science is a form of inquiry, typically involving a community of inquiry and its accumulated body of provisional knowledge, that seeks to discover good ways of achieving recognized aims, ends, goals, objectives, or purposes. The three …   Wikipedia

Economics of global warming — This article describes the economics of global warming and climate change. Contents 1 Definitions 2 Climate change science 3 Scenarios 4 Trends and projections …   Wikipedia

Positive economics — is the branch of economics that concerns the description and explanation of economic phenomena (Wong, 1987, p. 920). It focuses on facts and cause and effect relationships and includes the development and testing of economics theories. Earlier… …   Wikipedia