Research Methodology

An overview of Research Methodology
Research defines as a scientific and systematic search for pertinent information on a specific topic . In fact, research is an art of scientific investigation.

The term research refers to the systematic method consisting of enunciating the problem, formulating a hypothesis , collecting the facts or data , analyzing the facts and reaching the certain conclusions either in the form of solutions toward the concerned problems or in certain generalizations for some theoretical formulations It is actually a voyage of discovery

Research Purposes
To gain familiarity with a phenomenon or to achieve new insights into the object-( termed a exploratory or formulative research studies) To portray accurately the characteristics of a particular individual , situation or a group- termed as descriptive research studies. To determine the frequency with which something occur s or with which it is associated with something else (studies with this object in view are knows a s diagnostic research studies To test a hypothesis of a causal relationship between variables (such studies r known as hypothesis-testing research studies
Significance of Research
In the field of applied economics whether related to business or to the country as a whole. – increasingly complex nature of business , as an aid to economic policy both for government and business.
Provides the basis for nearly all government policies in our economic system- govt. budgets, basis for policy development
Special significance in solving various operational and planning problems of business and industry . operational research, marketing research. and along with motivational research is considered crucial that results in business decision making.
Equally important for social scientists in studying social relationships and seeking answer to the various social problem.

Basic Types of Research
Descriptive vs. Analytical:
Descriptive research includes