Research Methods in Economics

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Questions and Answers

What is the primary purpose of conducting research in economics?

  • To provide social commentary
  • To summarize knowledge in a field (correct)
  • To replace existing theories without evidence
  • To entertain the public

Which step is NOT part of the research process in economics?

  • Analyzing and interpreting results
  • Developing a research question
  • Randomly selecting a hypothesis (correct)
  • Reviewing literature

What should a literature review primarily accomplish?

  • Outline personal opinions on the topic
  • Identify gaps in existing research (correct)
  • Summarize only the successes in previous studies
  • Provide a detailed analysis of every related article

In the structure of a final paper, which section comes after the Literature Review?

<p>Empirical Analysis (C)</p> Signup and view all the answers

Which of the following best describes a research hypothesis?

<p>A proposed answer to the research question (D)</p> Signup and view all the answers

What aspect should a theoretical framework address in a research paper?

<p>Mainstream contributions and possibly a new framework (A)</p> Signup and view all the answers

In a research paper, which component is emphasized in the Empirical Analysis section?

<p>Analyzing and interpreting data (A)</p> Signup and view all the answers

What is the critical first step when beginning effective research?

<p>Conducting a thorough literature review (C)</p> Signup and view all the answers

What is a key characteristic of a literature review?

<p>It offers an overview of research on a given topic. (C)</p> Signup and view all the answers

Which of the following is NOT a purpose of a literature review?

<p>To create a definitive conclusion on a topic. (D)</p> Signup and view all the answers

What is the first step in starting a literature review?

<p>Select a topic and formulate research questions. (D)</p> Signup and view all the answers

When organizing sources before writing a literature review, which aspect is crucial to consider?

<p>The methodology and central results of the research. (B)</p> Signup and view all the answers

Which of these describes a type of literature review commonly found in the social sciences?

<p>A chapter in a thesis or dissertation. (B)</p> Signup and view all the answers

Flashcards

Research Question

A concise question that focuses the research. It should be specific, address a gap in literature, and guide the entire research process.

Research Hypothesis

A proposed answer to a research question, typically based on previous research or a theory. It's a testable statement.

Literature Review

A comprehensive summary and analysis of existing research related to the research topic. It identifies gaps in knowledge and contributes to the theoretical framework.

Research Process Steps

The structured steps involved in conducting research. Usually includes developing a research question, reviewing literature, defining the problem, testing a hypothesis, analyzing results, and communicating findings.

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Effective Research Topic

A narrow subject area with a clear research question. It's chosen after a literature review to identify gaps that can lead to significant contributions.

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Gaps in Literature

Areas where current research is lacking. Identifying these gaps can guide the research question towards unaddressed problems in economics.

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Theoretical Framework

The theoretical foundations supporting a research project's empirical analysis. It brings together existing theories or develops new ones to explain the project's variables and the relationships between them.

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Research Paper Structure

A standard structure for presenting research findings in economics, including introduction, literature review, theoretical framework, empirical analysis, conclusions, and references.

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What is a literature review?

It's an overview of research on a particular topic, aiming to answer relevant questions. It's not just a list of everything written, but a focused selection of the most important and relevant works.

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Purposes of a literature review

It helps you learn about previous research, research evolution, and demonstrates your understanding of the field. It also helps you identify gaps in existing research and formulate your own research questions.

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Types of literature reviews

They can be chapters in a thesis, separate articles, or even sections within research reports. They generally focus on scholarly sources and provide comprehensive coverage of a topic.

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Starting a literature review

Begin by choosing a topic and crafting research questions. Then, brainstorm search terms and use them to find relevant sources. Start with recent works to identify key areas and refine your focus.

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Study Notes

Research Methods in Economics

  • Economics research involves creating knowledge through structured arguments supported by evidence and contrasting perspectives.
  • Key steps in a research process include formulating a question, reviewing existing literature, defining the issue, testing hypotheses, analyzing and interpreting outcomes and communicating findings.
  • Effective research starts with identifying a topic; defining a concise question; and a hypothesis suggesting an answer.
  • A broad topic area and extensive literature review are crucial for discovering existing research, identifying gaps, highlighting contradictions, and selecting a focused research question.
  • Economic research articles should clearly state their research question, distinguish it from other similar research, explicitly discuss weaknesses and suggest areas for future study in the conclusion.

Structure of a Research Paper

  • Research papers typically have an introduction, literature review, theoretical framework, empirical analysis, conclusions, appendix, and references

Introduction (Structure specifics)

  • Define the general topic
  • Summarize past research and identify any gaps in prior knowledge
  • State the research question
  • Outline the methodology to answer the research question
  • Briefly outline the order of topics in the remaining sections

Literature Review & Hypothesis

  • A literature review analyzes existing research to understand previous findings for the particular research topic.
  • Organize each paragraph in the literature review by topic in terms of studies or themes.
  • Summarize the knowledge gaps.
  • Outline the researcher's own hypothesis.

Theoretical Framework

  • Describe the underpinnings and core concepts supporting the empirical analysis.
  • Build upon the mainstream/dominant concepts, and when possible, develop original concepts for analysis.

Empirical Analysis

  • Descriptive statistical analysis
  • Analysis before and after specific events/policies
  • Regression analysis
  • Case studies
  • Forecasting

Conclusion

  • Restate the research question/hypothesis
  • Summarize the empirical findings
  • Evaluate if the results support or refute the hypothesis
  • Highlight weaknesses and suggest further areas of study.

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