Economics in the study of business processes uses certain methods. Research methods in economics are the ways and means of studying certain phenomena.
Research methods in economics, as in any other branch of knowledge, are divided into universal (philosophical), general scientific (historical, logical, etc.) and specific to the economy.
In this science, such methods are widely used as functional analysis, analysis and synthesis, scientific abstraction, induction and deduction, hypothesis and hypothesis testing, experimentation, modeling, etc.
The method of scientific abstraction is reduced to the purification of the studied subject from particulars, any accidents and the allocation of typical, constant and essential features and characteristics. As a result of using this method, categories and concepts are derived that reflect the most important aspects of the studied objects, as well as economic laws that reflect the constant cause-effect relationships existing between the phenomena of the economy.
The method of graphic images allows you to visualize certain economic dependencies. As a rule, economisms place independent data (variables) on the ordinate axis, and dependent, respectively, on the abscissa axis.
Functional analysis helps to establish the relationship and dependence between economic processes and phenomena, when some factors act as exogenous (independent) and others as endogenous (derivatives from the first group).
Research methods in economics I widely apply economic and mathematical modeling, which today is one of the most common methods for studying economic problems. It allows you to identify the causes, consequences, patterns of processes. Economic models help to describe reality in a simplified form, they are an abstract generalization using graphs, equations and are necessary for a visual description of the relationship between economic variables. Models help to better understand the phenomena of economic reality, because they do not include many secondary details that complicate the vision of the essence of processes and the relationships between them.
Mathematical methods of research in economics are quite complex, since economics is a multidimensional system in which most processes are probabilistic in nature and depend on many factors.
Marginal (marginal) analysis is used to study economic categories and laws. The essence of the analysis is reduced to the increment of the economic indicator, due to the increase by one unit of the factor on which this indicator depends. Such an increase is characterized by marginal revenue, marginal product, marginal utility, etc.
Experimentation is used to artificially reproduce economic processes and phenomena so that they can be studied "close". However, this method requires caution, since it is unacceptable to break natural processes, fitting real life into artificial structures.
In economic theory, statistical methods are used to study the economic situation . These methods are necessary in the work of analysts as a diagnostic tool in order to make the right managerial decisions. Conjuncture is a situation that has developed at a certain moment in a certain area of economic life. We are talking about the specific conditions of the production process, the situation on the markets, etc. As part of the application of this method, methods of calculating absolute and relative efficiency are used, and index and balance methods are used.