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What is the place of empirical analysis in economics
Economic analysis includes both normative analysis and empirical analysis.
Normative analysis is used more in political economy, mainly to answer the question of why, its research has a value judgment and institutional perspective.
Empirical analysis studies the question of what, with objectivity. The use of empirical analysis in modern economics more and more, empirical analysis has become the most commonly used method in modern economics. With the extensive use of econometrics, game theory, and so on in the analysis of economics, the advantages of empirical analysis have been revealed.
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