NAVIGATING ECONOMIC ANALYSIS: THE SIGNIFICANCE OF METHODOLOGICAL RIGOR

Abstract

 Background: Economics, as a subset of the social sciences, relies on a systematic methodology to conduct applied economic analyses. This paper elucidates the fundamental importance of financial methods in generating rational and systematic knowledge.

Objective: The objective of this paper is to delineate the methodology of economics, highlighting its role as a guiding principle in economic research and emphasizing its significance in acquiring financial knowledge.

Methods: The methodology of economics is grounded in the scientific method, which provides a framework for the collection of techniques employed to generate economic knowledge. It encompasses the justification and examination of internal logic, specific research procedures, and the evaluation of characteristics, qualities, and weaknesses.

Results: Economic methodology guides the selection of instruments and techniques and establishes criteria for verification, which is essential for demonstrating findings in economic research. While the term "methodology" may vary in usage, it broadly refers to the steps and models applied in economics.

Conclusion: Economic methodology evolves continuously to address unique problems and improve analytical instruments. As different disciplines employ distinct approaches, there is no universal standard in scientific discovery. Therefore, understanding and adapting to changing methodologies are imperative for advancing economic knowledge and analysis.