Miscellaneous / Res/341 Economical And Political Paper

Res/341 Economical And Political Paper

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Autor:  anton  09 January 2011
Tags:  Res341,  Economical,  Political
Words: 401   |   Pages: 2
Views: 241

Define the business research and its purpose

The importance of information in economic and political processes in society is widely recognized by modern theories. This information tied with the advancements in

information and communication technologies have changed the way in which societies work (Morin, 1997). The availability of the Internet and other advanced forms of media have made information more accessible to citizens than ever before. Therefore, the ideal of the fully informed decision maker should be a reality. Unfortunately, this is far from the case (Grunberg, 1954). Explain the business problem(s) under investigation

As Einstein put it, ��information is not knowledge’’ and although people are bombarded by information on a regular basis, this does not necessarily bring about knowledge. Several studies have analyzed the characteristics of the knowledge society as well as its blow on the production of official statistics. In this it analyzes the role of statistics in building a knowledge society (Grunberg, 1954).

Describe the data collection method(s) used in the research project

Information, Expectations and Economic Theory are used. First, the relationship between information and economic theory was п¬Ѓrst analyzed by economists (Morin, 1997). Economic agents are supposed to not only act in a perfectly rational way, but to also be fully informed about relevant economic facts, such as the quality of goods, prices, etc. More recent theories and models have criticized this assumption (Grunberg, 1954). The introduction of asymmetric and incomplete information in economic models stimulated new approaches in economic policy analyses.

What did the researchers conclude as a result of their research?

The researchers concluded that political choices argue that there are big differences in what the general public and specialists, such as economists, think about key issues. National surveys that compared the society and economists evaluations of current and past economic performance exceeded their expectations for the economy and their perceptions of why the economy is not doing better (Morin, 1997). They found that a large proportion of the people especially those without a college degree believed that the economy is performing worse than official data show. Moreover, their results indicate a substantial gap between how the public and economists see the economy.

References

Grunberg, E. (1954). The predictability of social events. The Journal of Political

Economy, 62, 465–478.

Morin, R. (1997). Bridging the gap between the public’s and economists views of the

economy. Journal of Economic Perspectives, 11(3), 105–118.



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