WHAT EVERY ECONOMIC STUDENT IS EXPECTED TO KNOW DURING PROJECT WRITING

Economics Project Topics are among the most technical project topics not only in Nigeria but all over the world. Economics department is more like mathematics department than social science department. As an economics student you are expected to be acquainted with the following:

1.  statistical tools

2.  understand the variables in your research project topics

3.  you must be able to get the determinants for each variables in your research work

4.  how to source for statistical bulletin

Statistical tools

When I am talking about statistical tools I mean both the software that will enable an economic student carry out an effective data analysis for his or her research project work. The OLS (ordinary least square regression) is the most commonly used statistical tool among economics student. But these days you will hear about the augmented dickey fuller test using E-views among post-graduate students. I will discuss more about all these statistical tools in my next article.

Understand The Variables In Your Research Project Topics

You cannot carry out an effective research work on a particular topic given to you if you don’t understand the variables in your research topic. Almost every economics research work usually have at least two variables; the essence of this to be able to have a variable to variable nexus. One of the variables will be dependent on the other; it is left for the student to know the variable to be called dependent variable and independent variable.

You Must Be Able To Get The Determinants For Each Variables In Your Research Work

As far as the economics department is concern, every variable must have at least one or more determinants; this is because all the variables in any economics project topic(s) is quantifiable and is from secondary source. The complete data for the variable is usually gotten online. For example if we decide to go with the topic: impact of trade liberalization on employment growth in Nigeria

We will find out that the topic have two variables; which are “trade liberalization” and “employment growth”. Now the determinants of trade liberalization are: export rate, import rate, exchange rate, interest rate etc while the determinant of employment growth is just to get the statistical data for employment index in Nigeria. The dependent variable here employment growth and it is dependent on trade liberalization; mind you, this is just for the topic above.

How To Source For Statistical Bulletin

To source for statistical bulletin is one of the most difficult aspect of economics project topics; sometimes you will see statistical bulletin for the variables in your research work but they end up not being complete. But there is a way around it; you can either use time series to predict the rest of the data or your visit cenbank.org for more data.