Economics: Also an Art


Every time we look for the meaning of economics in any economics book, never if not, seldom they emphasize this discipline as an art. It does not even mention the word “art” in its technical definition. Economics, as defined in an Economics book, is a social science concerned with the efficient use of scarce or limited resources to achieve maximum satisfaction of human wants and needs. It involves production, distribution, allocation and exchange of these resources to attain efficiency and satisfy a person’s wants and needs to the fullest. It is a social science since it deals with the society and its natural resources. When we identify a combination of variables in production, how to produce them considering the resources available, for whom are these goods produced, and how they will be distributed in the society, we are dealing with economics as a science. But how does economics become an art?

When we study our society, we speak of people that comprise it. Therefore, it is in itself an art as we also study the interactions of people in the society. In other words, it becomes an art when we apply the concepts and theories of economics in solving the problems of people living in the society. When we say how 1000 sack of rice subsidy from the SLT warehouse be allocated to ten trucks for delivery, such as according to their class (Class A, Whole grain, Premium, etc.); how these trucks will deliver them for distribution, such as by location or region (cities or municipalities); and how many kilograms of rice be given to the residents of a city or municipality where they live in; we are dealing with economics as an art. When we talk of the degree of satisfaction every resident of a city or municipality derived from the rice subsidy, how these contributed to their individual consumption and propensity to save, and the ways an economist can do to help these residents get released from hunger, if not minimize them, we also study economics as an art.

Several other fields of studies which are also considered an art include photography, philosophy, and music. All of them also deal with people and their actions, their reasoning and behavior.


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