The Process of Conducting Research

1. The Process of Conducting Research

2. By the end of this chapter, you should be able to: • Define Science • Define research • Identify the importance of research • Name problems with research today • Describe the research process • Identify ethical considerations in conducting research • Reflect on the skills you bring to the research process

3. Science: Definition Science is the organized accumulation of systematic [reliable] knowledge for the purpose of intelligent explanation

4. 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

5. 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

6. 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

7. Elements of the Scientific Method • Empirical Approach • Observation • Questions • Hypotheses • Experiments • Analysis • Conclusion • Replication

8. 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)

9. 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

10. Elements of the Scientific Method(Questions) • Making an answerable question out of a research idea. • The question must be answered using available and established scientific research techniques and procedures. • 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?

11. 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 Xdetermines the value of Variable Y

12. 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

13. 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

14. Elements of the Scientific Method(Conclusions) Based on the results of the analysis conducted, wesupport 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

15. 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

16. What Is Research? • The researcher asks a question. • The researcher collects data. • The researcher indicates how the data answered the question.

17. 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.

18. 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)

19. 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.

20. 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

21. 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.

22. What is Evidence? • Quantitative Data = evidence in the form of numbers. • Qualitative Data = evidence in the form of visual images, words or sounds.

23. Approaches to Social Research Quantitative Objective observation Focus on variables Reliability Separation between theory and data Generalizable Large N Statistical analysis

24. Qualitative Approaches to Social Research Cultural meanings Focus on events Authenticity Merging between theory and data Situational Small N Thematic analysis

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

26. 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.

27. 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.

28. 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

29. Problems with Research Today • Contradictory or indefinite findings • Questionable data • Unclear statements about the purpose of the study • Lack of full explanation of the data collection procedure • Inarticulate rendering of the research problem

30. Steps in the Research Process

31. "Theory without empiricsis empty.Empirics without theoryis blind." Immanuel Kant - (1724 - 1804)

32. The Process of Research Identify the Research Problem Review the Literature Report and Evaluate Research Analyze and Interpret Data Specify a Research Purpose Collect Data

33. The Process of Research: Identify the Research Problem • Specify a problem • Suggest a need to study the problem for audiences

34. 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.

35. 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.

36. 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

37. 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.

38. 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

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

40. The Research Process: Collect Data • Determine the data collection method • Select the individuals to study • Design data collection instruments and outline data collection procedures • Obtain permissions • Gather data

41. 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

42. The Research Process: Report and Evaluate Research • Report research • Determine the audience for the report • Structure the report • Write the report sensitively and accurately

43. 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

44. Types of Research • 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.

45. Summary of Research Types

46. Ethical Considerations in Research • Respect the rights of the participants • Honor the requests and restrictions of the research site • Report the research fully and honestly

47. Skills Needed for Research • Curiosity to solve puzzles • Long attention span • Library and computer resource skills • Writing and editing skills

48. And finally…….. “there is no one best way for undertaking all research”