There are economic theories, but there is also applied economics, isn't it?
For most people it is the application of economics to real world issues and problems that matters.
Perhaps, the important point is to understand and know how to apply economics, its different theories and models to explain and solve real problems. That is not easy, though. Many economists can't do it well.
LincolnFung: There are economic theories, but there is also applied economics, isn't it?
For most people it is the application of economics to real world issues a
Yes, anyway, it do help us to understand the economic world.