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• Problematising is the process of going below the surface of what has been offered
as ‘the problem’ and trying to define what is really the matter. In the process of
problematising we make use of facts, figures, concepts, paradigms, opinions,
experiences, emotions and many, many other things.
• Qualitative research, on the other hand, is concerned with qualitative phenomenon, i.e.,
phenomena relating to or involving quality or kind.
• Empirical research relies on experience or observation alone, often without due regard
for system and theory. Empirical research is appropriate when proof is sought that
certain variables affect other variables in some way.
Research approaches
Two basic Approaches: quantitative approach and the qualitative approach.
• The inferential approach whose research purpose is to form a data base from
which to infer characteristics or relationships of population.
(1) Research provides the basis for nearly all government policies; (2) Research
has its special significance in solving various operational and planning
problems of business, industry or the society; (3) Research is equally
important for social scientists in studying social relationships and in seeking
answers to various social problems.
Distinguish between Research method and Research methodology:
Research methods may be understood as all those methods/techniques that are used for
conduction of research.
✓Statistical techniques which are used for establishing relationships between the data
and the unknowns;
✓Methods which are used to evaluate the accuracy of the results obtained.
Research methods falling in the above stated last two groups are generally taken as the
analytical tools of research.
• Research methodology is a way to systematically solve the research problem.
It may be understood as a science of studying how research is done
scientifically.
• Researchers not only need to know how to develop certain indices or tests,
how to calculate the mean, the mode, the median or the standard deviation
or chi-square, how to apply particular research techniques, but they also
need to know which of these methods or techniques, are relevant and which
are not, and what would they mean and indicate and why.
• Preparing the research design: State the conceptual structure within which
research would be conducted. The purpose of the research will dictate the design
which could be (i) Exploration, (ii) Description, (iii) Diagnosis, and (iv)
Experimentation.
• Collecting the data: Primary data and/or secondary data, with the
help of which he examines the truth contained in his hypothesis.
• Execution of the project: The researcher should see that the project is
executed in a systematic manner and in time. Researcher should
respect his schedule.
Analysis of data:
(1) coding operation;
(2) Editing
(3) tabulation.
• Good research is logical: This implies that research is guided by the rules of
logical reasoning and the logical process of induction and deduction.
• A ‘good’ theory in the social sciences like economics should meet the
following criteria: it must be (a) falsifiable, (b) logically coherent, (c)
operationalisable, (d) useful and (e) possess sufficient explanatory power in
terms of scope and comprehensiveness.
• Preparation of the report or the thesis (a):
• In its preliminary pages the report should carry title and date followed by
acknowledgements and foreword. Then there should be a table of contents followed
by a list of tables and list of graphs and charts, if any, given in the report.
• The main text of the report should have the following parts:
• (a) Introduction: It should contain a clear statement of the objective of the research
and an explanation of the methodology adopted in accomplishing the research. The
scope of the study along with various limitations should as well be stated in this part.
• (c) Main report: The main body of the report should be presented in logical sequence
and broken-down into readily identifiable sections.
• (d) Conclusion: Towards the end of the main text, researcher should again put down
the results of his research clearly and precisely. In fact, it is the final summing up.
At the end of the report, appendices should be enlisted in respect of all technical data.
Bibliography, i.e., list of books, journals, reports, etc., consulted, should also be given
in the end. Index should also be given specially in a published research report.
Report should be written in a concise and objective style in simple language avoiding
vague expressions such as ‘it seems,’ ‘there may be’, and the like.
Charts and illustrations in the main report should be used only if they present the
information more clearly and forcibly.
Calculated ‘confidence limits’ must be mentioned and the various constraints
experienced in conducting research operations may as well be stated.
General Steps to Follow When Conducting Research in Economics
Step 1 The first step in the process of conducting an economic analysis is to identify appropriate economic indicators for specific
economic forecasts or trends.
Step 2 Data collection is accomplished through observation and/or by reviewing measures of economic performance, such as
unemployment rates, personal income and expenditures, interest rates, business inventories, gross product by industry, and
numerous other economic indicators or indices. Such measures of economic performance may be found in secondary
sources such as business, trade, government, and general-interest publications.
Step 3 Prepare surveys to collect data and figure out what the data mean.
• Qualitative and Quantitative
• Descriptive Statistics, regression analysis, Before and After, Case Studies and forecasting
• Economists develop methods for obtaining the data they need. For example, sampling techniques may be used to
conduct a survey, and various mathematical modeling techniques may be used to develop forecasts. Preparing reports,
including tables and charts, on research results also is an important part of an economist's job
Step 4 Economists will examine, assess, and interpret the economic data collected and the subsequent forecast generated from the
economic data. Decision makers evaluate the data and forecast for accuracy, try to resolve inconsistencies in the
information, and—if it is warranted—assign significance to the findings.
Step 5 Following data analysis, economists restate their research question, then present their findings and conclusions. A sound
methodology requires not only a summary of the findings, but acknowledgement of any weaknesses in the study or the
analytical methods. A strong research methodology also involves identifying areas for future research.
Some sources and websites (source: https://www.bcps.org)
Find scholarly, published economic research. Some websites include: https://ideas.repec.org (free economic
downloadable research); http://ageconsearch.umn.edu (open access repository of full-text scholarly literature in
agricultural and applied economics).
Other economics research engine are:
✓ EconLinks (http://econlinks.com/) provides a directory of links for economists, economics students and anyone
interested in economics.
✓ The economics search engine (http://ese.rfe.org/) uses a beta version of Google Custom Search Engine to
search economics websites.
✓ Scirus (http://www.sciencedirect.com/scirus/) allows researchers to search for journal content but also
scientists' homepages, courseware, pre-print server material, patents and institutional repository and website
information.
✓ ThoughtCo (https://www.thoughtco.com/economics-4133521).
✓ The World Bank ( www.worldbank.org/).
✓ EconPort (http://econport.org/econport/request?page=web_home).
✓ CyberEconomics (http://ingrimayne.com/econ/TOC.html) is an easy-to-read approach to economics with a
variety of interactive problems and questions.