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Research Methodology in Applied EconomicsDr. Hwang Jaw LeeVisiting Professor, CARDZhe-Jiang UniversityApril 3, 2003We do a better job of teaching theory and tools than ……… teaching their use……… Students need more training in the relevance and application of the tools. COMMISSION ON GRADUATE EDUCATION IN ECONOMICE,American Economic Association,1991Research methodology provides the principles for organizing, planning, designing, and conducting research.The central reason for studying research methodology is that it provides a time-tested, proven means of producing new, reliable knowledge.Economic research methodology is, in a sense, science and art of economics rolled together, with its goal being to both expand our knowledge and make the knowledge relevant the contemporary world. ■ Doing research entails planning and design the research implementing and completing the analysis disseminating the results of the research■Two aspects of economic researchDiscovery- deals with formulating, finding, and creating newknowledge or information- alternative avenues of exploration and the like requiring questioning, probing, pursuing a creative processan art side of disciplineConfirmation- deals with discerning the validity or reliability ofknowledge or information- the “science” side of discipline□The Definition of ResearchWebster’s Collegiate Dictionary (1977)studious inquiry or examination; esp.: investigation or experimentation aimed at the discovery interpretation of facts, revision of accpted theories or laws in the light of new facts, or practical application of such new or revised theories.Andrew and Hildebrand(1982)the orderly procedure by which man increases his knowledge.Ghebremedhin and Tweeten(1988)the application of the scientific approach to the study of a phenomenonLeedy(1985)the manner in which we attempt to solve problems in a systematic the validity of the solutions to problems others have presumably resolvedResearch is the systematic approach to obtaining n
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