Impact of hyperinflation on investors and ordinary citizens in Essay - 1

Impact of hyperinflation on investors and ordinary citizens in zimbabwe - Essay Example or collection of data and determination of the process for analysing the accumulated data and information in order to arrive at a realistic solution of the research problem (Alexander and Dhumale, 2012). Such research methodology will be framed on the basis of the theoretical framework and ongoing economic circumstances in Zimbabwe. Research philosophy strikes an association between the theoretical aspects of the study with its practical exposure. Therefore, selection of appropriate research philosophy holds utmost importance for the successful completion of a research work. According to Alexander and Dhumale (2012), in order to derive the best research philosophy, its three distinct attributes should be analysed, such as; ontology, epistemology and axiology. The concept of ontology deals with realism and thus, it tends to analyse the social entities and social variables associated with the research objective so that research outcome becomes highly correlated with the practical world. Epistemology concentrates on the study of knowledge and attempts to apply the conjectural aspect for understanding the real world situation. Finally, axiology indicates the importance of value judgements (Alexander and Dhumale, 2012). As this particular research is conducted for academic purpose, epistemology is considered to be the most relevant philosophy for analysing the impact of hyperinflation on the general inhabitants of Zimbabwe. Under the research epistemology, positivism research paradigm will be adopted. Excellence of positivism reflects in its ability to observe the accumulated data and information explicitly and analyse such data applying the credible knowledge level (Maxwell, 2012). Research approach aids the researcher to precede the research work in a comprehensive manner. Conventional research methodology involves multiple research approaches such as abduction, deduction, induction etc. In order to analyse the effect of hyperinflation on the investors and