Scope of economicsLike its nature, the scope of economics is a vexed question and economists differwidely in their views. The reason is aptly put by Marshall in one of his letters to LordKeynes: “It is true of almost every science that, the longer one studies it, the largerits scope seems to be: though in fact its scope may have remained almost unchanged.But the subject matter of economics grows apace.” The continuous growth in thesubject matter of economics has led to divergent views about the scope of economics.9A discussion about the true scope of economics includes the subject matter ofeconomics, whether economics is a science or an art, or is it a positive or a normativescience.