Key Issues To Consider In The Selection Of Paper Topic For Macroeconomics ResearchWhether you are a graduate student or a teacher, you must consider how to choose the paper topic for macroeconomics research in a course. In addition, the key issue that has been raised is the general impression of the study area. We will see here how to select a paper topic for macroeconomics research based on some common problems.
- The individual should be familiar with the nature of macroeconomics. It is the study of the monetary and fiscal aspects of the economy. The research is in the field of employment, expenditure, taxes, investment, and production. These are the main factors which contribute to an increasing or decreasing employment rate, an increase or decrease in investments, a decrease or increase in taxes, and an increase or decrease in production.
- The first step is to identify the problem. To begin with, the main problems related to macroeconomics are unemployment, inflation, and growth. While these problems should be the basis of macroeconomics research, they should not be the only aspects of the topic.
- The second step is to look for the underlying cause of the problem. For instance, it is often suggested that high unemployment is caused by the recession in the United States. However, it is also suggested that the unemployment was caused by the subprime mortgage crisis. The key here is to find the causality between the two problems. In addition, the theory of a natural rate of unemployment is becoming quite popular these days.
- The third step is to choose the research project. There are many approaches that are adopted for the selection of the macroeconomic variables to be studied. One of the common approaches is to take data from the particular market where the market is currently operating.
- The next important aspect of the topic is to select a methodology. A standard approach is to use both survey and administrative data. However, some researchers prefer to use survey data because of its simplicity. The survey data is used to examine several variables at a time.
- Finally, the survey data is then used to estimate the response parameters of the variables. The estimation procedure takes into account the uncertainty in the parameter estimates. The uncertainty in the estimate of the parameter should be within the range of the estimated value.
In this article, we have discussed what you should consider in choosing the paper topic for macroeconomics research. The four common issues addressed in this article are related to unemployment, inflation, growth, and fiscal policy. These are the three main issues that will need to be covered in macroeconomics research classes.