question archive How would the advice of an economic scientist differ from that of an economic policy advisor?

How would the advice of an economic scientist differ from that of an economic policy advisor?

Subject:EconomicsPrice:2.88 Bought3

How would the advice of an economic scientist differ from that of an economic policy advisor?

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

An economic scientist is an economist who deals with the real facts and observations about the nation in the aspect of science; whereas, an economic policy advisor is an economist who deals with the political aspects of a nation.

The advice of an economic scientist could differ from that of economic policy advisor in many ways. Some of them are listed below:

1) According to economic policy advisor, economic models can be used to predict the result of policy; whereas, economic scientist emphasizes their theory on observation, they use the data, analyze the data.

2) The economic policy advisor considers all possible results of the action. On the other hand, the economic scientist attempts to remain unbiased and accepts the methodology.

3) Economic policy advisor can provide the optimal ways to achieve the objective; whereas, economic scientists build the model and explain data then attempt to test their models.