Quantitative and qualitative methods in economic research in the 21st century

Economic research has always applied both quantitative and qualitative methods ever since it came into being. However, the emphasis and the dynamics of interaction between these methods have been constantly changing, following the dominant approach in social and economic sciences. From time to time either quantitative or qualitative perspectives became more accepted meanwhile few attempts were made to truly join and reconcile their results. In this study I summarize the most important features of the quantitative qualitative debate and survey some good examples of application of quantitative and qualitative methods together. The aim of this paper is exploring opportunities and possible scientific advancement in their joint usage in macroeconomic research. The development of scientific research needs the appreciation and co-operative application of both methods.