Student`s Name

Researchin Economics

Economicis broad disciplines that cover different aspects that affect ourdaily life. Thus, research in economics is not a novel academicpractice since formal efforts has been developed in this disciplineto engage new students in the practice of carrying out research.Models of economic research programs require both students andinstitution efforts. Therefore, instructors present suchopportunities by adding important research components to theeconomics courses. Furthermore, research on the application of activelearning methods indicates that new students learn more easily bydoing rather than listening to an economics expert who tells them howresearch is conducted. Thus, students in economics are expected tocomprehend a research problem in sufficient profundity so as to becapable of posing a question about it and examine the level ofevidence available in answering the research problems, as well ascollecting data that provides a solution to the research question(Kardash 191). Therefore, this paper seeks to provide new studentswith an expectation for writing, reading and researching ineconomics, and also help new students understand ways in which theseliteracies can be explored to establish and communicate knowledge inthe discipline of economics.

Althoughthere is no suggested extent to which institutions need research ineconomics to be, one study documents the writing requirements ofresearch in economics (McGoldrick). According to this study, most ofthe institutions were found to have formal writing requirements suchas senior seminars. These senior seminars are designed to permitstudents to reinforce their knowledge of a certain field of economicsand to practice the application of economic theory. Thus, studentsenrolled in economics courses are able to improve their writingskills through senior seminar programs. Additionally, economicscourses are devoted to the research process and thus, students arerequired to apply the economic research tools that they have managedto master to a certain research issue. Furthermore, the incorporationof service-learning requires students to spend some time in volunteerservices to relate their knowledge of economic theories that theyhave learnt in classroom setting (Poirrier 88).

Oneof the economics professors said that it was quite a challenge fornew students wishing to undertake research in economics since many donot know how to narrow down their interests into an economic issue.Professor Franklin of faculty of economics in the University ofToronto told me that it is significant for the students todistinguish between selecting a topic and spotting an economic issue.For instance, a student may be interested in researching about laboreconomics as a topic, but their economic research problem should beas narrow as possible. He added that many students have the abilityof generating a myriad of questions about a topic, but coming up withan effective and specific research question is such a daunting taskthat is an integral factor of determining the prosperity of theresearch in economics. Therefore, effective economic researchquestion has distinguishable characteristics that can be connecteddirectly to the research process. Effective economic researchquestion is problem-oriented, significant, analytical, and suitableto analysis and feasibility of economic research (Greenlaw 14-18).

Equallyimportantly, research in economics requires the development of goodliterature review. Therefore, new students are required todemonstrate their skills in identifying and summarizing publications,articles and books that have information regarding the economic issueunder research. Students are also urged to employ of internet forfurther search of relevant literature. One of the economic analysts,Mr. Ardian Fullani, told me that in spite of the students’ skillsof synthesizing literature, they are likely to encounter a problem ofproviding their own contribution and analysis. He added that studentsare unable to critique literature developed by professionals and,therefore, they are unable to interpret the results presented henceunable to recognize gaps in the prevailing literature in economics.For students to overcome these hurdles, they need to read andcritique many of the scholarly articles to further their knowledge ofdeveloping an excellent economic literature, as well as identifyingexisting gaps in the literature (Tsiakis, Theodoros &amp Panagiotis201).

Developmentof the structured arguments through economic analysis is achallenging task that most of the students encounter in the researchprocess. Therefore, detailed descriptions of research components cancommunicate the quality and form of economic analysis that isanticipated in the research process. Although students are competentin synthesizing and summarizing literature, conducting their ownoriginal economic analysis is absolutely new to them. Therefore,students should exercise writing, reading and researching ineconomics so as to be professionals in conducting their own economicresearch in the most plausible ways (Bowmaker 141).

Mostsignificantly, research in economics that expects to present originalwork has appended extra hurdles to overcome. Therefore, students havea tendency of falling back to what other people have done instead ofperforming and presenting original arguments and evidence. Persuadingthe audience of the legitimacy of the claims relies on the logicalprocess and the level of evidence presented. Although many studiesthe students attempt involves applied empirical economic research andthus inductive in a way, both warrant-based and deductive argumentsmay be employed as substitute techniques of analytical reasoning(Greenlaw 57-59). Therefore, students in the faculty of economics mayexpand an understanding of these techniques so as to appreciate thefact that audiences have to be persuaded by the level of the evidenceused in research.

Whendeveloping theoretical economic model, students should be able tointroduce economic models that assist them to have insight of aparticular economic phenomenon. Therefore, it is necessary to developeconomic models mathematically while ensuring their consistency.Mathematical arguments are employed to interpret assumptions ofequilibrium or a fixed state. The mathematical interpretation helpsthe students to track changes in various economic variables which inturn help in understanding the behavior of an economic phenomenon inthe long run. It important for the students to know that theoreticalaspect of economic research can be used to solve the outlined model.Therefore, an excellent theoretical model captures a greater aspectof reality since the value of an economic model tends to hinge on theplausibility of the fundamental assumptions. In addition, studentsare expected to haves skills in the development interpretation ofgraphs in economics so that they are able to deduce some of economicaspects such as demand and supply (Sampat 30).

ReflectionMemo

Thisassignment, though challenging offered me the opportunity to learnnew methods and ways of presenting information from differentacademic sources and from the vintage point of economists. First,conducting an interview with a professor of economics was not easy,and so was interview with an individual practicing economics(economic. I decided to discuss one of the most critical economictopics that relate to the economic research and what new studentsshould expect in the faculty of economics. Analysis of the two mainarticles has helped me learn new ways and methods of presentinginformation, communication skills and writing techniques that bestexemplify economic principles and knowledge in the realm of research.I have learnt that economic principles cannot be fully explainedwithout the use of the economic model or mathematical principles.From a professional perspective in the field of economic, I gatheredthat economics transcends across many interrelated disciplines and isclosely intertwined with mathematics, management and commerce. Froman interview with a professor, I gathered that economic conceptsprinciples exemplify both micro and macroeconomic forces that affecteconomic aspects in writing, reading and researching a particularproblem in economics.

Additionally,I have learnt more broadly on method-oriented work used in thedevelopment of research designs which have remained much influentialin the empirical economics especially where data is connected withthe theory in the most transparent manner. In the process, I havebenefited immensely from the economics points view since research ineconomics will not become a hurdle anymore. Therefore, I am at a veryexciting point since many economics are starting to incorporateinsights from other fields. It is the same as evolution of economicsthat was based merely on theoretical and then becomes more empiricalthrough research. I believe that economics is going to be much morescientific as there are a number of problems that require efforts ofeconomists to make the word a better place in many important ways.

Interviews

RespondentA

Dr. Franklin

Position: EconomicsProfessor

Questions

Whatis the importance of carrying out research in the field of economics?

Emphasison economic research for both experimental and microeconomics enablesthe analysis of various vital non-economic factors such as socialnorms, fairness, and reciprocity for modern economic life.

Whatis the role of an economist in the research?

Therole of economist is to observe trends in economic data and facts tocome out with the optimal equilibrium in relation to the factorsaffecting the economic growth.

Whatshould new students in the faculty of economics bear in mind beforethey conduct any economic research?

Onething they should know is that there is a way we conduct research inthe faculty of economics. It is different from other disciplines.First, before carrying research students should know what kind ofresearch they are about to undertake, either applied, analytical,descriptive, or subject-matter research. Lastly, they should knowthat most of the economics research contains research methodologythat tries to answer that research question.

Whatskills should new students develop so that they are able to carry outeconomic research?

Theyshould know how to form economic functions so that they are able toestablish causal relationships between independent variable and thedependent variables.

RespondentB

Mr. Ardian Fullani

Position: Economic Analyst

Questions

Whatis the importance of carrying out research in the field of economics?

Undoubtedly,accurate and timely economic research is significant in carrying outmore plausible economic policies for the purpose of fosteringnon-inflationary and a stable growth and consequently, coping up withrisks under a rapid and dynamic integration of our economies.

Whatis the role of an economist in the research?

Economistshave responsibilities of ensuring an optimal equilibrium between theeconomic research significance to financial stability or monetarypolicy, their eminence and well-timed availability.

Whatshould new students in the faculty of economics bear in mind beforethey conduct any economic research?

Thenew economics students should remember that economic researchutilizes economic data as its central input. Therefore, theavailability and eminence of economic data is a major factor fordelivering accurate and timely economic research. However, theavailability of economic data cannot be regarded as satisfactory,since collection and calculation of the statistical foundation arealso taken into account.

Whatskills should new students develop so that they are able to carry outeconomic research?

Thestudents should acquaint themselves with econometric techniques,method of presenting economic information, communication skills andwring skills that best exemplify economic principles and knowledge.They should also learn how to make use mathematical and diagrams.

WorksCited

Bowmaker,Simon W. The Art and Practice of Economics Research: Lessons fromLeading Minds. Cheltenham, UK: Edward Elgar, 2012. Print.

Greenlaw,S. A. (2006) Doing Economics: A Guide to Understanding and CarryingOut Economic Research, Boston: Houghton Mifflin Company.

Kardash,C. M. (2000) ‘Evaluation of an Undergraduate Research Experience:Perceptions of Undergraduate Interns and their Faculty Mentors’,Journal of Educational Psychology, Vol. 92(1), pp. 191–201.

McGoldrick,KM. (2006) ‘The Senior Experience for Economics Majors: Resultsfrom a Survey of Departmental Practices’. Presented at the AmericanEconomic Association meetings, January 2006.

Poirrier,Gail P. Service Learning: Curricular Applications in Nursing. Boston:Jones and Bartlett Publishers, 2001. Print.

SampatMukherjee.Modern Economic Theory. New Age International, 2002. Print.

Tsiakis,Theodosios, Theodoros Kargidis, and Panagiotis Katsaros. Approachesand Processes for Managing the Economics of Information Systems. ,2014. Internet resource.