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. Research and Science are mutually interdependent
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 X determines 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, 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

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. Approaches to Social Research
Qualitative
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 empirics is empty. Empirics without theory is blind."
Immanuel Kant - ( )

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

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