Search

What is another word for normative economics?

Pronunciation: [nˈɔːmətˌɪv ˌiːkənˈɒmɪks] (IPA)

Normative economics is a branch of economics that focuses on subjective value judgments and the analysis of what should be, rather than what currently is. It is essential to have a comprehensive understanding of this concept, as it lays the foundation for economic policies and decision-making processes. Synonyms for normative economics include prescriptive economics, which provides recommendations and guidelines for economic actions, and value-based economics, which emphasizes the incorporation of societal values and ethics into economic analysis. These synonyms capture the essence of normative economics, highlighting the importance of considering desired outcomes and societal perspectives when evaluating economic theories and policies.
Opposite words
Antonyms
Search

What are the opposite words for normative economics?

Normative economics is a branch of economics that deals with the value judgments, opinions, and recommendations about economic policies and outcomes. It stands in contrast to the other branch of economics called positive economics, which focuses on the description and analysis of economic phenomena without making any value judgments. Antonyms for normative economics would, therefore, be positive economics, descriptive economics, or non-normative economics. These terms describe the opposite approach to normative economics, as they do not involve making any value judgments about what should or should not be done in the economy. Instead, they focus on understanding and analyzing the economic world as it is, without any bias towards particular outcomes or policies.

What are the antonyms for Normative economics?

Word of the Day

Chases sign
The term "Chases sign" refers to a linguistic phenomenon known as synonymy, wherein multiple words or phrases are used interchangeably to convey a similar meaning. Synonyms for "Ch...