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Premium member Presentation Transcript PPT 5801 AGRIBUSINESS RESEARCH METHODS: PPT 5801 AGRIBUSINESS RESEARCH METHODS Presenter: Mamma Sawaneh GS31415 Faculty of AgricultureASSIGNMENT: ASSIGNMENT Explain the following terms used in research methods Concepts Models Theories Laws The role of value in physical and social science Is economics/management a science?CONCEPTS: CONCEPTS We first examine what an idea is? In short, an idea is a plan, suggestion or possible course of action. Therefore, a concept is Formally and logically developed ideas about classes of phenomena that a researcher seeks to study; the "building blocks" of theory.ECONOMIC CONCEPTS: ECONOMIC CONCEPTS In microeconomics, the principal concepts include supply and demand marginalism rational choice theory opportunity cost budget constraints utility and the theory of the firmMODELS: MODELS The knowledge and understanding that the scientist has about the world is often represented in the form of models The applied scientist and technologist then use the models of science to predict and control the world.DEFINITION OF A MODEL : DEFINITION OF A MODEL A model is a representation containing the essential structure of some object or event in the real world. A model is used for situations when it is known that the hypothesis has a limitation on its validityForms of model representation: : Forms of model representation: Physical, as in a model airplane or architect's model of a building Symbolic, as in a natural language, a computer program, or a set of mathematical equations.CHARACTERISTICS OF MODELS : CHARACTERISTICS OF MODELS Models are necessarily incomplete. no model includes every aspect of the real world. The model may be changed or manipulated with relative ease. The scientist or technician changes the model and observes the result, rather than doing a similar operation in the real worldCHARACTERISTICS OF MODELS: CHARACTERISTICS OF MODELS A model is used for situations when it is known that the hypothesis has a limitation on its validity hypothesis: A conditional statement that is logically consistent with a theory and can be tested with observations . observation: The process of gathering empirical data to analyze toward the goal of testing hypotheses. Courtesy: (Abbot, Andrew. 2004. Methods of Discovery. New York: W.W. Norton. )Ex. Economic models: Ex. Economic models In economics , a model is a theoretical construct that represents economic processes by a set of variables and a set of logical and/or quantitative relationships between them Economists use models to describe economic activities Most economic models are abstractions from reality, they provide aid in understanding economic behavior Courtesy: ( Harper, Douglas (2011). "Online Etymology Dictionary – Economy“.http ://www.etymonline.com/index.php?term=economy )Demand and supply model: Demand and supply model A more general model is q D = a + bp q S = c + dp Equilibrium q D = q S a + bp = c + dpSupply-Demand Equilibrium: Supply-Demand Equilibrium S Quantity per period D Price 5 500 7 750 D’ An increase in demand... …leads to a rise in the equilibrium price and quantity.Demand and supply model: Demand and supply model The supply and demand model describes how prices vary as a result of a balance between product availability and demand The graph depicts an increase (that is, right-shift) in demand from D to D’ along with the consequent increase in price and quantity required to reach a new equilibrium point on the supply curve (S).Hypothesis, Theory, and Law : Hypothesis, Theory, and Law We deduce from facts and assumptions to a hypothesis "A hypothesis is a tentative assertion of a relationship between factors or events that is subject to verification or rejection." In short, a hypothesis is a testable proposition of the relationship between or among variables COURTESY: (Abbot, Andrew. 2004. Methods of Discovery . New York: W.W. Norton. )Theory and Law : Theory and Law Theory A set of logically consistent ideas about the relationships between empirical phenomena (i.e., concepts) that permits those ideas to be tested using observations. is a whole system of thought (or systematic explanation) that refers to many phenomena and whose parts are related to one another in deductive , logical form COURTESY: (Abbot, Andrew. 2004. Methods of Discovery . New York: W.W. Norton. )Theory: Theory A theory is valid as long as there is no valid evidence to dispute itCharacteristics of a Useful Theory: Characteristics of a Useful Theory A useful theory makes assumptions about a behavior, health problem, target population, or environment that are: Logical Consistent with everyday observations Similar to those used in previous successful programs and Supported by past research in the same area or related ideas Courtsy :( Alligood M R, Tomey A M. Nursing Theory: Utilization &Application .3rd ed. Missouri: Elsevier Mosby Publications; 2002.)Characteristics of theories: Characteristics of theories Theories are Interrelating concepts in such a way as to create a different way of looking at a particular phenomenon. Logical in nature. Generalizable. Bases for hypotheses that can be tested. Increasing the general body of knowledge within the discipline through the research implemented to validate them.Characteristics of theories: Characteristics of theories Used by the practitioners to guide and improve their practice. Consistent with other validated theories, laws, and principles but will leave open unanswered questions that need to be investigatedHow to evaluate the quality of a theory: How to evaluate the quality of a theory Is it logical and coherent? Is it clear and parsimonous ? Does it fit the available data? Does it provide testable claims? Have theory-based predictions been tested and supported? Has it survived numerous attempts by researchers to identify problems with it or to falsify it? Does it work better than complting or rival theories?How to evaluate the quality of a theory: How to evaluate the quality of a theory Is it general enough to apply to more than one place, situation or person? Can practitioners use it to control or influence things in the world?Economic theory: Economic theory Economic theory rests largely on deductive logic . Note Deductive logic is the process of reasoning from general conditions or premises using assumptions to specific conclusions relies upon quantitative economic models , which employ a variety of conceptsEconomic theory: Economic theory typically proceeds with an assumption of ceteris paribus , which means holding constant explanatory variables other than the one under considerationExample of economic theory: Example of economic theory Marginalist theory describes the consumers as attempting to reach most-preferred positions, subject to income and wealth constraints while producers attempt to maximize profits subject to their own constraints, including demand for goods produced, technology, and the price of inputs.Law: Law A theory that has been subjected to extensive testing over time and across space, and that has won virtually universal acceptance, is called a law .For instance,: For instance, the law of supply and demand refers to the commonly observed phenomena that, in a free market, the forces of supply and demand generally push the price toward its equilibrium level, the price at which the quantity supplied and quantity demanded are equal. Another example is the law of diminishing marginal returns.The role of value in physical and social science: The role of value in physical and social science Values intersect with science in three primary ways. First, there are values, particularly epistemic values, which guide scientific research itself. Second, the scientific enterprise is always embedded in some particular culture and its values enter science through its individual practitioners, whether consciously or not. Finally, values emerge from science, both as a product and process, and may be redistributed more broadly in the culture or society Values in Science and Research Ethics: Values in Science and Research Ethics Scientists typically value the following: reliability, testability, accuracy, precision, generality, simplicity of concepts and heuristic power.Values in Science and Research Ethics: Values in Science and Research Ethics Scientists also value novelty, exemplified in the professional credit given for significant new discoveries (prestige among peers, eponymous laws, Nobel Prizes, etc.). Note: Scientists strongly disvalue fraud, error and "pseudoscience" Source: Allchin , D. 1998, "Values in Science and in Science Education". In B.J. Fraser and K. G. Tobin (eds.), International Handbook of Science Education ( Kluwer Academic Publishers, Dordrecht) 2:1083-1092 Is economics/management a science? : Is economics/management a science? Economics is the social science that analyzes the production , distribution , and consumption of goods and services . The term economics comes from the Ancient Greek οἰκονομία ( oikonomia , "management of a household, administration") from οἶκος ( oikos , "house") + νόμος ( nomos , "custom" or "law"), hence "rules of the house(hold)". Courtesy: ( Harper, Douglas (2011). "Online Etymology Dictionary – Economy“.http :// www.etymonline.com / index.php?term =economy )REFERENCES: REFERENCES Harper, Douglas (2011). "Online Etymology Dictionary – Economy“.http :// www.etymonline.com / index.php?term =economy Allchin , D. 1998, "Values in Science and in Science Education". In B.J. Fraser and K. G. Tobin (eds.), International Handbook of Science Education ( Kluwer Academic Publishers, Dordrecht) 2:1083-1092 Abbot, Andrew. 2004. Methods of Discovery . New York: W.W. NortonGROUP THREE (3): GROUP THREE (3) GROUP MEMBERS : Nur Shazwani - GS29559 Zarina Ismail - GS30334 Ibrahim Aliyu Isah - GS30914 Mamma Sawaneh - GS31415TERIMA KASIH: TERIMA KASIH THANK YOU FOR THE AUDIENCE You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.