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-The module for which the applicant has registered -The title of the research proposal -The name of the applicant - The degree obtained by the applicant, including dates of completion -The postal address, telephone number and e-mail address of the applicant -The following signed declaration:

I have studied the guidelines of the Department of Economics for the MPEMS92 research proposal module and my proposal conforms to these guidelines. Signed:



Problem Statement


The problem statement should highlight why you are writing this paper. The question we often ask is “So what” so based on what you have under the introduction you can tell us if there is a problem or not and the study has to show us that problem that will be addressed later on. One example could be on economic growth, unemployment (economic growth fell from 10 percent in 2013 while unemployment increased from 30 percent to 50 percent). With this you show how this is a problem and why we should be concerned.


Research Purpose

Look at an example of the research purpose

“The purpose of this paper is to establish the relationship that exists (if any) between inflation and stock prices in South Africa. The study will therefore inform financial economists and managers as to which variable causes the other. This will be guided by the causality test, proposed by Granger (1980:


Try to formulate yours similar to this.

Aims and Objectives

Aims This study broadly aims at investigating the impact of macroeconomic variables, particularly the inflation on the stock prices in South Africa and hence provide some policy objectives based on the findings. These macroeconomic variables are interest rate, Gross Domestic Product (GDP), exchange rate, inflation, interest rate and money supply covering the period 1980-2010.

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Research Objectives The objectives of this study are:

1. To investigate the causal link between the exchange rate and the stock prices, GDP and stock prices, and stock prices in South Africa.

2. To determine whether exchange rate volatility has any effect on stock prices in South Africa,

3. To determine if other macroeconomic variables affect stock prices volatility in South Africa.

Research Hypothesis

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The hypotheses to be tested are stated as follows:

There exists a functional relationship between stock prices on one hand and a set of variables on the other: inflation, exchange rate, interest rate, GDP and the growth of money supply in South Africa.


These, simply put or stated as the null and alternative hypotheses can be written as follows:

H 0 : Inflation has no effect on stock prices. H 1 : Inflation has an effect on stock prices.

H 0 : Macroeconomic variables have no effect on stock market 1 . H 1 : Macroeconomic variables have an effect on stock market.

1 Note that a separate hypothesis is done for each variable and.