Research methodology, Schemes and Mind Maps of Economics

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2.1.3 Three kinds of economic research

Three Kinds of Research

1. Disciplinary research

Disciplinary research

to develop and improve

economic theories,

quantitative techniques

and parameters

1. supply and demand

2. elasticity

3. multiplier effects

4. GDP

Subject-matter research The set of problems involving energy

energy

engineering

geology

political

science

physics

chemistry other disciplines besides economics 7

corn

producers

the use of energy to harvest, dry, store, and transport corn

The characteristic subject-matter research

The decision makers can accept the information made available to them by a subject-matter research effort, then use their own resources to get the additional information required to solve each specific problem. (^10)

3. Problem-solving research that addresses particular management of policy questions for a decision- maker can be both positivistic (eg. estimating parameters) and normativistic ( eg. estimating consumer surpluses)

The three philosophies – positivism, normativism, and pragmatism – may all be more or less important depending on the type of research.

Disciplinary (and basic theoretical) research focuses on logical positivism and objective normativism. Subject-matter research involves all three philosophies. The focus is on understanding outcomes of proposed actions, which leads to guidelines and decisions. Problem-solving research that addresses particular management of policy questions for a decision-maker can be both positivistic (eg. estimating parameters) and normativistic ( eg. estimating consumer surpluses)

Discussions of the

meanings of term

1.Normative knowledge

2.Positivistic knowledge

3.Prescriptive knowledge

Knowledge of value

it is knowledge having to

do with the goodness and

badness of conditions,

situations,and things.

Absolutist

values

Extreme

Intermediate

view

are

characteristi

cs of the real

world there

is a supreme

ultimate

good such as

utility

the view that values exist only in “knowing minds” only empirical knowledge of value that is possible is knowledge of values held in such minds there are numerous goods and bads that are characteristi cs of the real world and are knowledge, and that these are not necessarily reducible to a common denominator values exist only in knowing minds but holds that the existence of common characteris tics of knowing minds makes some value knowledge universally Knowledge of value