QUANTITATIVE METHODS

Quantitative Methods



Quantitative Methods

Introduction

For decades, there has been a raging debate among scholars regarding the differences between and advantages of qualitative and quantitative methods. In fact, this has probably been one of the largest and longest methodological debates in all of social science research. Perhaps it can be briefly summarized by the following two famous and opposing quotations: Haining says, “All research ultimately has a qualitative grounding”; and Fred Kerlinger says, “There's no such thing as qualitative data. Everything is either 1 or 0” (Haining, 2003, 66). Although it is not necessarily critical to determine which—if either—of these approaches can be described as the better one, it is imperative to have a thorough understanding of these methods in order to be able to conduct sound political science research. After all, for a study to be of value to scholars and other individuals interested in the topic, it is necessary for one to choose the correct research approach, ask suitable questions, use appropriate research methods and statistical analyses, correctly deduce or induce inferences, and have suitable general goals driving the research.

Quantitative test based observations

We investigate, using questionnaires, the use of spreadsheet software in the financial sector workplace by recent graduates and the benefits of spreadsheets in the teaching and learning of actuarial and financial mathematics at postgraduate level. This study investigates the nexus between learning and work in order to modify the university curriculum. We aim to equip graduates with skills applicable in the workplace and to improve the learning of actuarial and financial theory. The results indicate that the use of spreadsheets in the workplace is ubiquitous and that graduates find them relatively easy to learn, easy to use and very useful for their work. Spreadsheet skills are considered very valuable.

Little or no formal training had been provided during their university studies and graduates mostly learned on the job. The surveys of postgraduate students and of employers support the conclusions reached from the graduates' survey. There is considerable justification for university courses to include training in the use of spreadsheets. In industrial practice, many financial and statistical calculations are done using spreadsheets. At university the traditional approach used in teaching financial mathematics is for students to solve problems using pen and paper and then to do any calculations required using a calculator. The traditional approach may be a barrier to the learning of financial theory for many students. This paper investigates the use of spreadsheets and other software in the workplace by recent graduates, the extent to which these skills were learnt at university or on the job, and the type of software skills required by financial sector employers of recent actuarial science and other graduates.

It also investigates the opinions and attitudes of postgraduate coursework students regarding the use of spreadsheets and software in the teaching and learning of actuarial and financial mathematics. Our purpose is to consider the nexus between learning and work in order to determine whether the university curriculum should be revised - both ...