Randomized control trials project Statistical concepts play integral roles in explaining other disciplines and its role in economics is an example. Many statistical techniques exist for conducting research on economic issues. A randomized controlled trial is one of the examples of applicable statistical techniques and it ensures randomization and treatment on research participants for results and conclusion. This paper discusses the research design and its possible scope of application to investigate effects of youth empowerment on Nigerian economy. Youth unemployment is a reported concern in the republic of Nigeria and data indicates its escalating trend.
The socio-economic problem has been significant in the West African country for decades. Olutayo explains that while youth unemployment was previously limited to school dropouts, the problem is more significant and affects even graduates. Only about 10 percent of university and college graduates get employment and the salary scale is as low as $ 120 per month (Olutayo 230). This is therefore an important socio-economic issue because of its effects on macroeconomic factors as gross domestic product and productivity towards a sustainable balance of payment for the country and social issues such as long-term accessibility to education and healthcare services.
The proposed randomized controlled trial wishes to test the following set of hypotheses. Ho: µc= µt; Youth empowerment in Nigerian major towns is not an effective strategy to resolving the unemployment problem among the nation’s youths HA: µc≠ µt; Youth empowerment in Nigerian major towns is not an effective strategy to resolving the unemployment problem among the nation’s youths The randomized control trial will involve a random selection of individuals from different cities followed by development identification of control and treatment groups in each city.
Treatment will then be applied and data collected on a blind experimental set up. Youths who have completed their university or tertiary education form the target population and economic empowerment through provision of funds for investments and entrepreneurial education is the proposed treatment. Stratified random sampling can aid random assignment of treatment and control groups. Treatment will involve provision of funds and education. Entrepreneurial education will be administered through community-based organizations with youth empowerment agendas while local commercial banks will distribute the funds.
Monthly income will be the outcome variable with interest in establishing existence of a significant difference between the treatment and the control groups (Dumitrescu 70). I will use the randomized control trial to generate data in groups that a one-way analysis of variance can evaluate for significance of difference. I will organize data by two variables. Treatment effect will be the basis for one variable with control and treatment as levels while city identity will be the second variable. Statistical software will then aid analysis of differences in mean income across control and treatment levels after three months.
The null hypothesis will be rejected if obtained p-value is less than 0.05. A randomized control trial is necessary for this evaluation because of its strength in correlation studies and because of its freedom from bias, especially in the subject that may be susceptible to political and social bias (Dumitrescu 70). Works cited Dumitrescu, Alexandrina. Understanding periodontal research. New York, NY: Springer, 2012. Print. Olutayo, Olanrewaju. Assessment of democratic trends in Nigeria. New Delhi: Gyan Publishing House, 2011. Print.