SIGNIFICANCE OF METHODOLOGY &

METHODS IN RESEARCH

Research is :

Diligent Inquiry and careful search for new

knowledge
Systematic, scientific and analytical approach in
any branch of knowledge
Fact finding as opposed to beliefs and opinion
Discovering new fact through search and
research
Extend,collect or verify knowledge
Ascertaining existing theories or modifying them

It helps to accept , reject or modify

existing facts or knowledge
Construct new theories
Systematic method of discovering new
facts or verify old facts, their sequences
in the relationship, causal explanation
and the natural laws that govern them
Investigating or establishing
relationships at higher and higher levels
Providing new insights

To be Contd.

Knowledge arises and extends as a

result of persistent thinking ,scientific
investigation and logical thinking
(Galileo ,Newton, Darwin, Einstein and
others in the former category and
Socrates, Plato, Aristotle etc. in the
latter category).
Truths backed by scientific
explanation
Understanding , prediction and
control

METHODOLOGY & METHODS

OF RESEARCH
METHODOLOGY
A general plural term or all the individual
methods one has chosen,

How and why of what has been done,

particular procedure or set of procedures
A systematic study of methods that have
been applied
A collection of theories, concepts and

An analysis of principles, methods,rules and

postulates

A comparative study of different approaches

Philosophical traditions and values followed:

Phenomenon vs Noumenon or
Positive vs Normative approaches

Inductive vs Deductive methods

Why one has chosen questionnaires over other

methods ?
What the aim of the research is ?
How the sample group is chosen ?
Whether one chose to email the questionnaire,
send them by post or administer them
personally ?
Issues about ethics in research and
confidentiality

Qualitative vs quantitative methods

Case studies, interpretivist, hypothesis testing

grounded theory(develop theoretical account of
general features grounding the account in data
through continuous interplay between data collection,
and analysis.
Eg .
i) Adam concept of division of labour and
specialization improving efficiency and welfare
based on obsns. in a pin factory
ii) Karl Marxs socially necessary labour time based
on obsns. of the length of the working day

METHODS

Inductive & Deductive Methods

Case Study, Sample Study, Grounded theory & Most
empirical studies belong to the former category, while
Consumption function, Investment function, etc
belong to the latter
Questionnaires administering
Personal Interviews
Statistical Methods
Econometric Methods
Modeling (Causal, Time Series, Neural Networks,
Linear Programming, etc)

Sampling & other methods of

observation, measurement & analysis
Survey methods
Sensitivity analysis
Financial ratio analysis
Balance Scorecard
Cost-benefit analysis
Entropy models & applications
Trend-fitting