difference between deductive and inductive methods in economics

May 12th, 2015
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2. #What is the difference between deductive and inductive methods in economics when discussing theories? Inductive methods in economics starts from the gathering of facts and data before forming a theory based on the results gathered.

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What is the difference between deductive and inductive methods in economics when discussing theories?ECON1001 - Microeconomics for Business Decisions2. #What is the difference between deductive and inductive methods in economics when discussing theories?Inductive methods in economics starts from the gathering of facts and data before forming a theory based on the results gathered. However, a deductive method begins with general theories and principles about economics, generating a hypothesis before testing them, a reverse of inductive methods in economics when discussing theories.9. #

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