The method of any science is a set of ways, receptions, the principles which define ways of achievement of the goal. The end result depends on the choice of concrete model of a research. The economic theory assumes use of both general scientific, and specific methods.
The method of scientific abstraction found broad application in the economic theory as it often operates with concepts which cannot just be presented. The researcher just does not pay attention to the minor parties of the phenomenon, concentrating only on essential and important at the concrete moment.
The analysis – a method which assumes splitting the studied subject into some components and their separate research. Synthesis - process the return to the analysis.
Induction and deduction became widespread. Transition from a research of partial factors to the general conclusions and situation is called induction. Deduction allows to bring rather partial factors out of some general statements and the facts. These methods are quite often called targeting and removal respectively.
The analysis, synthesis, induction and deduction, as a rule, apply together. It allows to realize a system, integrated approach to the studied object. Especially often they are applied when studying the multielement phenomena of economy.
Logical and historical methods
These methods are applied in unity. Many consider that they are opposed each other, but it not so. Starting points of a research at both methods coincide. Just often it happens so that the logical research of certain economic events can not coincide with historical in whole or in part. Specific conditions in any given country are capable not to satisfy to representations and desires of ruling structure. Therefore there are similar disagreements. There are also return phenomena, but they meet more rare. Actually certain phenomena take place to be, however the theoretical analysis does not allow to prove them.
Mathematical and statistical methods
Economic processes are characterized by qualitative and quantitative definiteness therefore not the last role is occupied by mathematics and statistics. They allow to calculate and predict concrete results to concrete term. Economic-mathematical modeling in the formalized form defines the reasons of changes in economy, regularity of similar changes, consequences, costs and possibilities of influence. By means of this method, economic models which are studied on theoretical courses are created.
Comparative and graphic method
These methods are also similar. In the first case compare, as a rule, quality indicators, in the second quantitative. In addition, the graphic method allows to make approximate forecasting that is quite enough for the general conclusions. The comparative method is quite often used together with historical, for example, in the analysis of economy of two countries at various stages of development.