Case Study on the Philosophy of Social science

Introduction of The Philosophy of Social science

The aim of this paper is to provide deep insights regarding social philosophy and how it has influenced me in my Ph.D. Different people have different beliefs and norms which can influence their decision. Ethics also have an influence on the decisions that we generally take. In other words, people don’t always behave selfishly or in a way that is unethical. If I talk about how my experience has influenced me to do this Ph.D. then I can say that due to my self-interest in this field, I have chosen to do this research. The past experiences and interests that develop over time matters a lot in the choices that you make in your life. There are many aspects and concepts in international banking which still require extensive research, my study will explore these concepts and reduce the research gap (Schoenmaker, 2013).

How has my previous experience made me ready with this Ph.D.?

There is no doubt that past experiences influence future outcomes. I established a passion for business studies at a very young age and I wanted to understand the business work and what things are necessary to perform the business. I know my decision is rational because I have a passion to understand about how organizations work and operate. If my choice of choosing international banking is analyzed in the light of rational theory then several things will have to be understood in order to know whether my decision to choose international banking is rational or not (Kincaid, 2012).

The rational theory has been criticized because of different reasons. The first reason for which rational theory is criticized is cognitive bias. People don’t always make rational decisions. Sometimes the decisions are influenced by cognitive bias. The cognitive bias is an error related to the thinking process. Due to this error, the decision-making process is affected. For instance, any person can choose the topic of healthcare for his Ph.D. because many of his friends are also selecting the topic related to healthcare.

Different people have different beliefs and norms which can influence the decision. Ethics have also an impact on the decision that we normally make. In other words, people don’t always behave selfishly or in an unethical manner. If I talk about how my experience has influenced me to participate and think about Ph.D. then I can say that due to my self-interest in this field, I have chosen to do this research. The past experiences and interests that develop over time matters a lot in the choices that you make in your life. There are many aspects and concepts in international banking which still require extensive research, my study will explore these concepts and reduce the research gap (Risjord, 2014).

Which research philosophy is ideal for my project?

There are different research approaches or philosophies that researchers can adopt in conducting the research study. For my Ph.D. I have decided to go on with the empiricism philosophy. The researchers also have the option to select rationalism or interpretivism for performing the research. Rationalism considers “science as the search for universal laws of nature.” However, empiricism focuses on large number of facts and attempts to establish patterns between them. Through Empiricism, the researcher questions everything and tries to find answers in detail. In other words, with Empiricism philosophy, researchers won't accept the statement and instead of it, they will try to prove the statement with the help of science and laws (Stockman, 2013).

With empiricism philosophy, I can say that I will be able to get significant amount of data for performing tests. The data collected according to empiricism philosophy is more valid and reliable. The results of the study will be accurate and authentic because they are going to be tested and evaluated before being converted into results. The deep analysis of the data will create results which will not only be authentic but will also help in reducing the research gap (Tudor, 2013).

How Social sciences Module Help me with this Project

Social sciences can be described as the discipline which discusses the relationship between the society and individuals. Social sciences help individuals to understand society and how society works. The social science tries to explain things that are not visible to a naked eye. Lessons associated with social sciences have enabled researchers to study how people in the society perceive various things (Elster, 2015). Different people have their own beliefs, attitudes, and cultures which differentiate them from one another. As my topic is related to International Banking, social sciences will allow me to understand what the key preferences of the individuals are and how banks can provide best services by understanding the needs of the society (Potter, 2016).

Since social sciences discuss the characteristics of society, it can help me to understand what the society actually wants and what issues the societies of the 21^st century are currently facing. With social sciences, I might be able to understand the attitudes and beliefs of different people, which is considered significant in the banking industry. Many banks increase their revenues by increasing their market share. It means that the more customers they will attract, the more profit they will earn. For attracting customers, banks should know what type of society they are serving and what it is that people need. If the needs and preferences of customers are neglected then banks might be unable to generate sales (Weber, 2017).

International banking means to perform banking services in different parts of the world. For this, it is necessary to know about the cultures and characteristics of different societies of the world. Beliefs of the Western society are not similar to the beliefs of Eastern society. Hence, it can be said that social sciences will help me understand what the key features of different societies of the world are and how banks can provide their services by comprehending the cultures and beliefs of these societies (Kincaid, 2012).

Considering the fact that I am doing research in International Banking for myself, the knowledge of society is highly essential. Without having a clear idea of the society, I cannot understand the services of the international banks and how they are targeting different customers. The module of social sciences has enhanced my understanding of the behavior of customers. Through this I have understood how banks across the world are attracting their customers.

Relationship between Positivism and Finance

            In accordance with Positivism, the objective of science is to explain what can be measured and observed. Even though this concept doesn’t apply to finance in an absolute manner, it can be utilized to enhance financial diversification. However, it can be applied to social sciences in an effective manner. This gap offers me a significant opportunity to take and explore in my research (Schinckus, 2015).

How will I approach my future?

            This class has undoubtedly enabled me to perceive and understand different concepts in a better way. In my field, there are significant ambiguities and they can confuse a person. These ambiguities have been cleared and clarified by this class. Due to this clarification, I have been capable of choosing this topic for my research. In the future, I will work diligently to ensure that I complete every single part and tasks associated with my research. In addition to it, I will set a specific timeframe in which I will attempt to complete my project. This will help me in entering the business field.

How will my characteristics impact the project?

As discussed earlier, the beliefs, attitudes, and interests of people have a major impact on the decisions they take in their lives. My personal interest has played a significant role in making me select this topic for my Ph.D. I developed an interest in banking industry since I was quite young, which is why I have decided to conduct a research in international banking. This research will not only provide significant amount of information but also the research gap will be reduced up to a significant extent. My personal beliefs and attitudes have also played a role in the selection of this topic.

In my opinion, cognitive bias is also a factor that has influenced me in taking this decision. The environment and the society in which I live have also influenced me to pursue the research in this sector. Therefore, I can say that social factors effectively influenced my decision to take this project. If I did not have developed an interest in the banking sector then I might have chosen another topic for my research (Horen & Claessens, 2012).

Conclusion of The Philosophy of Social science

If all the above discussion is summarized, then it can be said that there are different research approaches or philosophies that the researchers can adopt in conducting the research study. For my Ph.D. I have decided to choose the empiricism philosophy. Researchers also have the option to select rationalism or interpretivism for performing the research. Rationalism considers “science as the search for universal laws of nature.” However, empiricism focuses on large number of facts and attempts to establish patterns between them. Through Empiricism, the researcher questions everything and tries to find answers in detail. In other words, with Empiricism philosophy, researchers won't accept the statement and instead of it, they will try to prove the statement with the help of science and laws. In other words, with Empiricism Philosophy, researchers won't accept the statement and instead of it, they will try to prove the statement with the help of science and laws.

As discussed earlier, the beliefs, attitudes, and interests of people have a major impact on the decisions they take in their lives. My personal interest has played a significant role in making me select this topic for my Ph.D. I developed an interest in banking industry since I was quite young, which is why I have decided to conduct a research in international banking. This research will not only provide significant amount of information but also the research gap will be reduced up to a significant extent. My personal beliefs and attitudes have also played a role in the selection of this topic.

References of The Philosophy of Social science

Elster, J. (2015). Explaining social behavior: More nuts and bolts for the social sciences. Cambridge University Press.

Horen, N. v., & Claessens, S. (2012). Foreign Banks: Trends, Impact and Financial Stability. International Monetary Fund.

Kincaid, H. (Ed.). (2012). The Oxford Handbook of Philosophy of Social Science (illustrated ed.). OUP USA.

Potter, G. (2016). The Philosophy of Social Science: New Perspectives. Taylor & Francis.

Risjord, M. (2014). Philosophy of Social Science: A Contemporary Introduction. Routledge.

Schinckus, C. (2015). Positivism in finance and its implication for the diversification finance research: Diversifying finance research: From financialization to sustainability. International Review of Financial Analysis, 40, 103-106.

Schoenmaker, D. (2013). Governance of international banking: The financial trilemma. Oxford University Press.

Stockman, N. (2013). Antipositivist theories of the sciences: critical rationalism, critical theory and scientific realism (Vol. 3). Springer Science & Business Media.

Tudor, A. (2013). Beyond empiricism: Philosophy of science in sociology. Routledge.

Weber, M. (2017). Methodology of social sciences. Routledge.