Economics as a Positive Science : Professor J. B. Say, Senior, among classical economists, and Professor Robbins, among modem economists, have regarded economics to be positive science. According to Robbins, “Economics studies the facts which can be examined, while normative science the facts of evaluations and findings.”

1. In economics, the actual viewpoint can provide systematic, argumentative and correct economic conclusions, because the basis of relationship between causes and consequences is logical. 

2. Strong economic principles are formed on the basis of actual view points, beliefs and scientific analysis. 

3. If only the study of authenticity of economic activities is done in economics, then disagreement amongst economists will lessen, understand ability will increase amongst them and the development of economics will also take place in a rapid way. 

4. Professor Robbins had said that realizing the scarcity of resources, mankind should perform work according to the best of his skills. He should undertake only such work in which he specializes. If an individual starts doing all kinds of works, then he will waste both, his time as well as money. Therefore, an economist should concentrate only on the cause and its consequence.

Economics is a Normative Science : Various economists such as Fraser, Henderson, Quandt and others consider economics to be a normative science. 

Following arguments can be given in favour of this :

• Mankind is both emotional and argumentative : Along with being logical, an individual is emotional also, and therefore it is essential to study both the aspects of human behaviour, thus, along with being a positive science, economics is also a normative science. 
• More useful : In fact, economics is an agent of social welfare. Therefore, its use in the form of normative science will be more important. Along with the study of economic activities, an economist should also think about making it more useful and effective. 
• Wrong argument of division of labour : The argument that economists should merely interpret the relationship between causes and consequences, and the task of finding solutions should be assigned to the policy makers and political leaders, is not correct. Its actual analysis will become monotonous and uninspiring and labour and power would not be saved. Therefore, the power of taking decisions should also vest in the economists. 
• More realistic : The nature of economics is continuously changing. Today, economics is rapidly developing in the form of welfare economics. Subjects such as economic planning and social security have become major subjects of economics. In such condition, one cannot ignore the normative aspect of economics. 
• Helpful in betterment of the society : A economics is a social science and it works for the betterment of the society, its normative aspect cannot be ignored.

From the above discussion, it is clear that economics is both, positive as well as normative science. We can consider economics to be pure and real science, but certain normative objectives should also be kept for practical use.