Part 1 Flashcards
Define research
Research is the systematic approach to obtain and confirme new valuable knowledge
(Ethridge, 2004)
Interms of characteristics
a research should be _______ and ________
Systematic and orderly
What is the purpose of any research
Contribution/ value-added in terms of topic, time period; sample; methods
What is the characteristics of the steps in any economic research?
Logical and sequential
Justify the statement
Research is not accidental Discovery
Research is a structured process that follows a number of sequential and logical steps
Justify the statement
Research is not only that data collection
Collection is an intermediate step to gain reliable knowledge
Justify the statement
Research is not only Searching out published research result in libraries
The research process always includes synthesis and analysis
Research is about
Searching for explanation of events, relationshipa and causes
Research is said to be a creative process that is
Planned and managed to make the information generated credible
Give an example on theoretical research
- Expedentiure theory of Keynes
- Market equilibrium model
- Quantitative theory of money
- IS-LM model
- Hecksher-Ohlin theory
What lays the theoretical foundation of to the economic science?
Theoretical research
Theoretical Research relies on
Building a theoretical model based on a series of behavioural assumptions of economic entities
What does applied research attempt to do?
Solve a particular problem in real life
What type of research has a direct application to policy making?
Applied research
What type of research can provide an estimate for economic parameters
Applied research