ELI5: Explain Like I'm 5

Qualitative economics

Qualitative economics is a type of economics that looks at things other than numbers, like opinions, values, beliefs, and attitude. For example, a qualitative economist might study how people in a certain town feel about a new business opening up in the community. They may ask questions like "Do people in this town think the new business is a good idea?" or "How do people here feel about the potential effect this business might have on the local economy?" Qualitative economics helps us to understand how people think, feel, and act when it comes to economics - which can help us make better decisions about how to run the economy.