ECON1P91 Assignment 1.docx - ECON1P91 ASSIGNMENT 1 Wenxuan(Selina Jiang 1 1 These two statements logically contradict one another because in both two

ECON1P91 Assignment 1.docx - ECON1P91 ASSIGNMENT 1...

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ECON1P91 ASSIGNMENT 1 Wenxuan (Selina) Jiang 1 1. These two statements logically contradict one another, because in both two cases, the same premise which we assume to be true is that animals are unnecessarily wounded. 2. a) It pertains to the genetic fallacy. b) It pertains to red herring and appeal to experts . c) It pertains to argument from (appeal to) authority/experts. d) It pertains to appeal to emotion. e) It pertains to Post Hoc Ergo Propter Hoc. 3. (50%) Is economics a science? Why or why not? Please respond in a 500-word essay. The Nobel Memorial Prize in Economic Sciences is always facing dispute among researchers in other fields. They think this Nobel Prize should not be set, because economics is different from physics, chemistry, or medicine. It is not a kind of scientific field (Shiller, 2013). If people strictly define the science with the perspective of the natural sciences, economics is indeed not a science because economics is cyclical, all the behaviors involved in economics cannot be easily tested by designing experiments, and economics does not follow the regular pattern of science. First, as what financial observer James Grant said, science is progressive, but finance is cyclical (Pollock, 2010). The economic cycle generally refers to the regular expansion and
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