True.
Historical episodes are valuable for economists as they provide real-world data and examples that can be used to illustrate and evaluate current economic theories.
By examining historical events, economists can test the applicability and effectiveness of economic theories in different contexts. These case studies from the past help economists understand how economic principles have played out in practice and can provide insights into the consequences of various economic policies and decisions.
Analyzing historical episodes is a common method for assessing the relevance and accuracy of economic theories and models.