I'm sorry that I have to say that according to my experience, economics is not purely or mostly focused on the research of theory. Though I myself is not a economics majored student, I know, somehow, a little bit about economics by studying myself and aquiring from my eldder brother who's taken economics as his master major.
And compaired the research method of economics and that of some nature science fields such as biology as I studyed, I spotted that they share more similarity than differencies.
Firstly, the research of economics is heavily based on the observing, reducing and predicting of one of the most important and magnificant activity of the whole human being, and also the statistical consequence of such observation and analysis. Secondly, the final purpose of the study of economics is settled in resolving the problems appeared in the real world, such as management, accounting and investation. To further expand my point of view, economics is not only aimed at illustrating the current rules concerning financial issue, the higher goal of economics is to find a way which can create a new rule which can garentee the rule-maker's profit, as the one made by the Rothchild's family which has controlled our world for over two centuries. So I prefer consider the study of economics as kind of rebellion against the present world rulers, kind of----to understand, to disemble the present one and to set up a new one. Back to my theme, in the field of nature science, so called theoretical lab research is connected with productive practice by a complicated major called down-stream engineering. Lab work, down-stream and producing work togather, but can hardly be studied unitedly. However,on contrast, the data needed in the research of economics comes directly from the pratice of economical theories, and the theoretical conclusions can be practised directly in the market, because both the theoretical research and the practice is tightly attached to the only rule of the activity being studied----the pursuit of profit. As there is only one extremely sophisticated element----human being involved in the activity of economy, while the nature science is kind of complex co-effect of lots of simple elements, practice should be payed more attention to.
In sum, I think the former two speakers who claimed that the study of economics is kind of social science focuses more on theory has simply underestimated the value of practice or at least observing the practice in economics.
PS:
1.I'm not sure whether you two consider the research of economics as kind of art, but if you do, you should know that art is based on practice, which means an artist should express his or her idea by painting, or sculpting.
2.There is actually no purely theoretical research, since even a philosophor has to observe.
jg-xs1
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