Theoretical Model Harder Than I Expected

Well I thought it would have been a lot easier than it was to determine a theoretical model for my research topic. Between not remembering all of the models I learned back in principles and trying to determine exactly how my question fits into certain models it took me a lot more time than I expected. I ended up selecting the theory of demand. I am thinking this seems best for my topic but I need to continue my research and make sure I will have enough to support this model.

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Assignment 6

Anddddd we’ve reached the assignment where we have to pick which theoretical model will best fit with our research topic. Trying to find a model that I could apply my research topic to was not easy for me only because my memory is not too great and everything I learned in Microeconomics and Macroeconomics has sort of slipped my mind. After some researching and trying to remember what I learned a year ago, I finally decided to use Robert Solow’s growth model. Since I am measuring the economic impact of development organizations in developing countries, I think this model will be a good one to use since it aims to predict a country’s long-term economic development and it factors in technology, capital, and the size of the labor force. Now my next step is to remember exactly how the model is used…wish me luck!

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Process Revision

I have kind of always had an idea of where I wanted my research to go and what I wanted to further validate. However, turning these vague ideas into a form that could be stated in a hypothesis that is answerable by a specific model gave me pause. A part of me really wanted to use a more complex such as the neoclassical growth model. Instead, I think I am going to settle upon using the law of demand as a way to more narrowly look at some of the relationships at work within my topic.

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Theoretical Model

Coming up with an economic related research topic was pretty challenging but now it is time to decide on an economic theory that applies to this topic. This step makes everything about the research process go up another level. While I began to look back into my Macro and Micro notebooks, I decided that I didn’t really find any of the models too helpful. I wanted something narrow that allowed me to really learn more about my topic. While researching various models, I came across the Becker Model. This model brings discrimination and its influence in a market place to the forefront. I googled the Becker Model and there is not a lot of literature about it since it is so narrow. I was pretty excited to find something that I think applies well with the idea of gender pay discrimination and the effect it can have on the minority of employees. I just sent in my theoretical model proposal so let’s see if Dr. Greenlaw agrees!!

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Theoretical Models?

Now that we have to choose a theoretical model, the whole economics side of this paper is starting to get intense. Because I’m doing a profit/ financial analysis, I know I want to stick to microeconomic theories. I think the theory that makes most sense is profit maximization (obviously), but I’m having a hard time getting into detail about the aspects of my research question fitting into the graph and its various curves. This might be tough…

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Critical Review

Now that we are starting to get deeper and deeper into the process of research I am realizing how time consuming it is starting to get. The time consuming part is not actually doing the work, but it is finding the literature and reading it…and not just once, but over and over and over and over again until you fully understand what the author is trying to explain. I found the critical review to be a lot more challenging than the abstract because it required you to be nitpicky and in order to do this, you really needed to understand the literature.

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Forming A Theoretical Model

At first glance it seemed like forming a theoretical model would be fairly simple. Just jot down a couple letters and thats it. I was very wrong. Even with a simple demand and supply model it can be difficult to decide what to set each variable to be. Especially when you have a dataset with multiple values to choose from and you must decide what will make the best model.

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Thoughts on critical reviews

I looked through a couple of more articles this week, including the one I reviewed critically. I have definitely underestimated how much reading previous work can help me with my research question. For every article I read, new thoughts develop, which makes me both inspired and worried. It gives me inspiration of how to approach the question but worries me that I might not approach it the right way. The author of the article I critically reviewed ran a bunch of regressions to test his hypotheses and it made me think of how to formulate the equation for my research question. I am researching what the effects of joining the Euro would have on the Swedish economy. The major measurement for economic growth is real GDP growth and I believe I want to run a regression with real GDP growth as the dependent variable and have eurozone membership as a dummy and explanatory variable. If I want to use this equation, though, I might have to twitch my research question a little bit to make sure the answers I get, actually answers the right question.

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Critical Analysis

I found that it was far more challenging to write the critical analysis than the abstract. Having to thoroughly examine the data analysis and look for assumptions took a lot of patience.  On the other hand, the article that I critically examined provided me with a few great databases for my research.

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Analyzing Articles In Depth

As I am reading more and more articles relating to my topic (The GI Bill) I find myself analyzing what the author is saying more critically, especially when I did the critical review and abstracts. Although it takes me a lot more time to understand the articles to the best of my ability I feel I am getting more information out of them then I would have in previous research projects. I am also finding that there is a lot of different types of research that has been done on the GI Bill. It is making me reconsider my research topic and question if I should make it more specific like some of the previous research.

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