The Process of Conducting Research

By the end of this chapter, you should be able to:

Define ScienceDefine research Identify the importance of researchName problems with research todayDescribe the research processIdentify ethical considerations in

conducting researchReflect on the skills you bring to the

research process

Science: Definition

Science is the organized accumulation of systematic [reliable] knowledge for the purpose of intelligent explanation

Science is systematic inquiry -- it is not a static or unchanging entity.

Research and Science are mutually interdependent Science is accumulated, reliable knowledge Research is a process through which science is

expanded and tested for validity

Economics as Art and Science(Is Economics a Science?)

Economics is a science because it accumulates (reliable?) knowledge through systematic inquiry

It is also is an art which applies knowledge to current issues and problems.

Good economic research requires intuition, creativity, and worldly experience

The Scientific Method

• The “scientific method” is basically a perspective on how scientific investigations should be undertaken.

• It can be considered as a complete set of principles and methods that help researchers in all scientific disciplines obtain valid results for their research studies

Elements of the Scientific Method

Empirical Approach Observation Questions Hypotheses Experiments Analysis Conclusion Replication

Elements of the Scientific Method(Empirical Approach)

Evidence-based approach.

The guiding principle behind all research conducted in accordance with the scientific method

Data derived from direct, systematic and careful observation and experimentation (as opposed to speculation, intuition, opinions, feeling)

Elements of the Scientific Method(Observation)

Awareness of the real / physical / social world in which we exist. This, in turn, gives rise to questions as the basis for research studies or investigations

Elements of the Scientific Method(Questions)

o Making an answerable question out of a research idea.o The question must be answered using available and

established scientific research techniques and procedures.o Scientific Analysis should not be attempted on questions

which cannot be answered

Example of an answerable question:

Can regular exercising reduce an individual’s cholesterol level?

Example of a (currently) unanswerable question:

Is time travel possible?

Elements of the Scientific Method(Hypotheses)

Hypotheses attempt to explain phenomena of interest.

A hypothesis is a proposition which is empirically testable.

It usually seeks to explain relationships between variables, and predict, and must be falsifiable

Typical hypotheses structures:

Conditional - If Condition X is fulfilled, then Outcome Y will result

Correlational - The value of Variable B is observed to be related with changes in the value of Variable A

Causal – The value of Variable X determines the value of Variable Y

Elements of the Scientific Method(Experiments)

Experiments are basically about measuring phenomena and collecting accurate and reliable data which are used for analysis and evaluation

Accuracy – Correctness of the Measurement

Reliability – Consistency of the Measurement

Elements of the Scientific Method(Analysis)

Analysis is about the use of qualitative or quantitative tools and techniques to process data

Quantitative tools and techniques are considered more desirable (objective) than qualitative tools and techniques

Statistical and ec0n0metric analysis is typically used to quantitatively analyze data acquired in research studies

Elements of the Scientific Method(Conclusions)

Based on the results of the analysis conducted, we support or refute a hypothesis

When undertaking research, conclusions should only be based on the available data and not broadened to include statements which are not supported by the data

Example: If the research analysis shows that two variables are correlated (related), do not assert also that a causal relationship exists between them

Elements of the Scientific Method(Replication)

The purpose of replication is to ensure that if the same research study is conducted with different participants (i.e. researchers, research subjects), then the same results are achieved

Replication establishes the reliability of a research study’s conclusions

What Is Research?

The researcher asks a question.The researcher collects data.The researcher indicates how the data

answered the question.

Research is a Process that Results in a Product

The product is knowledge or information.

Research results are answers to questions.

Good research raises new questions.

What is Research?

There are many accepted definitions for the term “research”, for example:

Research is an active, diligent and systematic process of inquiry in order to discover, interpret or revise facts, events, behaviours, or theories, or to make practical applications with the help of such facts, laws or theories. The term ‘research’ is also used to describe the collection of information about a particular subject

(Encyclopedia Wikipedia)

A Definition of Research

Research is a process of steps used to collect and analyze information in order to increase our understanding of a topic or issue.

Developing Critical Thinking Skills

Critical thinking = a highly aware perspective that tries to avoid fallacies reveal assumptions adopt multiple viewpoints keep an open mind while questioning simple solutions

Developing Critical Thinking Skills

Critical thinking uses a special type of argument called empirical evidence

Argument = set of logically connected statements that start simple and end in a clear conclusion.

Empirical evidence = evidence of actual events occurring in the world, that come from direct or indirect observations.

What is Evidence?

Quantitative Data = evidence in the form of numbers.

Qualitative Data = evidence in the form of visual images, words or sounds.

Approaches to Social Research

Quantitative

Objective observationFocus on variablesReliabilitySeparation between

theory and dataGeneralizableLarge NStatistical analysis

Approaches to Social Research

Qualitative

Cultural meaningsFocus on eventsAuthenticityMerging between theory

and dataSituationalSmall NThematic analysis

Importance of Research

Reason 1: Research adds to our knowledge. Addresses gaps in knowledge Expands knowledge Replicates knowledge Adds voices of individuals to knowledge

Importance of Research (cont’d)

Reason 2: Research helps improve practice. Economists gain new ideas for their job. Economists gain new insights into approaches. Economist can connect with other economists.

Importance of Research (cont’d)

Reason 3: Research helps inform policy debates. Research allows people to weigh different

perspectives on issues. Research enables people to make informed decisions

regarding policy.

The research process

Factors to consider

The impact of your personal feelings and beliefs

Access to data

Time and other resources

Validity and reliability of the data

Ethical issues

Problems with Research Today

Contradictory or indefinite findingsQuestionable dataUnclear statements about the

purpose of the studyLack of full explanation of the data

collection procedureInarticulate rendering of the

research problem

Steps in the Research Process

"Theory without empiricsis empty.

Empirics without theoryis blind."

Immanuel Kant - (1724 - 1804)

The Process of Research

Review theLiterature

Identify the Research Problem

Reportand

Evaluate Research

Specify a Research Purpose

Collect Data

Analyze andInterpret

Data

The Process of Research: Identify the Research Problem

Specify a problemSuggest a need to study the problem for

audiences

The analysis of business cycle is one of the most important steps for both healthy evaluation of economic developments and construction of accurate economic policies.

for a true understanding of the developments in Turkish economy and design of economic policies that enable stable and sustained long-run economic growth, the results of the study have to be evaluated carefully.

The Process of Research: Review the Literature

Locate resources Books Journals Electronic resources

Select resources Determine the relevant resources for the topic Organize the resources by developing a

“Literature Map”Summarize the resources in a literature

review

One of the most influential empirical papers ever published to date is a paper by Kydland and Prescott (1990). In this well known article they displayed the stylized facts of business cycle fluctuations in USA. In this study following the Lucas’s definition, business cycle is defined as the deviations of aggregate real output from its trend.

Plosser (1989) investigates real business cycle fluctuations in USA between 1954-1985. For analyzing the properties of the business cycle, he used the moments of the sample and found out that the growth rate of investments is the most volatile process. Output, wages and consumption follow this.

The Process of Research: Specify a Research Purpose

Identify the purpose statement The major intent of the study The participants in the study

Narrow the purpose statement Quantitative: Write research questions

and/or hypothesis Qualitative: Identify a central

phenomenon and write subquestions

in this study we try to identify those shocks that impact Turkish economy and to construct the dynamic responses caused by these shocks.

The Research Process: Collect Data

Determine the data collection methodSelect the individuals to studyDesign data collection instruments and

outline data collection proceduresObtain permissionsGather data

The Research Process: Analyze and Interpret Data

Take the data apart to look at individual responses

Represent the data in tables, figures, and pictures

Explain conclusions from the data that address the research questions

The Research Process: Report and Evaluate Research

Report research Determine the audience for the report Structure the report Write the report sensitively and accurately

Types of Research

Exploratory Research = research into a new topic to develop a general understanding and refining ideas for future research

Descriptive Research = research that presents a quantitative or qualitative picture of an event, activity or group

Example : Unemployment in Turkey since 1980

Explanatory Research = research that attempts to test theory or develop a new accounting of why activities, events or relations occur as they do

Example : Keynesian Consumption Theory : There is a positive relationship between consumption and disposable income.

Evaluation Research = applied research that is designed to learn whether a program, product or policy does what it claims to do

Example : Was the contractionary monetary policy successfull in decreasing the inflation.

Types of Research

Summary of Research Types

Purpose of Research

Type of Research Purpose Question Main Audience Outcome

Exploratory Learn about something new and unknown

What? Varies, usually a researcher

General ideas and research questions

Descriptive Provide details on something known

Who?When?How?

Varies Factual details and descriptions

Explanatory Build a new or test an existing explanation

Why? Professional researchers Test a theory, compare explanations

Evluation Determine the effectiveness of a program or policy

Does it work? Practitioners and policy makers

Practical recommendations

Ethical Considerations in Research

Respect the rights of the participantsHonor the requests and restrictions of the

research siteReport the research fully and honestly

Skills Needed for Research

Curiosity to solve puzzlesLong attention spanLibrary and computer resource skillsWriting and editing skills

And finally……..

“THERE IS NO ONE BEST WAY FOR UNDERTAKING ALL RESEARCH”