Queen of Social Science

Politics, Law and Order, Social Welfare, business management, sociology, and other social sciences are all part of life. Differentiated by natural science like Physics, Chemistry and, Biology whose work does not depend on the evolution of human thinking and behaviour, Proofs and applications of natural science are based on the experiments done by the researchers in particular labs. But, when we talk about social science, we can understand it's just the opposite of it. To comprehend the necessary our theories, it is necessary to conduct surveys and engage in conversations with individuals. By utilizing mathematical curves and formulas, we can accurately articulate our theories.  As thinkers, we have the ability to clearly express our theories. The social sciences require the development of theories and function through research, a necessary component since the dawn of civilization. For the functioning of society, it is essential to consider the give-and-take approach rather than solely focusing on personal gain. This principle has been practised since the beginning of time.

At the start of any activity, there is a need for exchange and reciprocation. That's where Economics, the queen of the gambit, comes in. It not only satisfies this need but also brings about numerous benefits. All the activities require economics. Paul Samuelson once said, "Economics is the queen of social sciences, " emphasizing the importance of discipline in utilizing available resources effectively. This statement highlights the significance of economic principles in all actions. All actions of society, individuals or human beings are certainly dependent upon Economics.

Economics is a social science that is also recognized as a form of science. Earlier it was mixed with administration and politics but in the late 1700s, it got its emergence as a separate field of study by Adam Smith who is the father of economics. In the year 1776, a book got published by the father of economics on the wealth of nations and there he stated economics as a different discipline. We will discuss the book and its emergence some other day, today it's all about the queen; Economics.

So broadly economics is divided into two main parts microeconomics and macroeconomics. But, in today's interconnected world, the international economy plays a critical role, which is why it's essential to consider a country's economy as a crucial component of the broader theory and laws of economics. A country's economic health affects not just its own citizens but has ripple effects across the globe. Therefore, policymakers must prioritize economic stability and growth to ensure a prosperous future for all. Microeconomics deals as it says micro units of society as businesses, households and government sometimes, whereas when we speak of macroeconomics it considers the economy as a whole, it connects every aspect of society and connects us.

You tell me about your opinions on economics and household, industries, and government interrelation.