Realizing the potential for economics research depends on the successful completion of several interdependent tasks: • A problem is identified, • Data related to the problem are collected, • Description transforms data into useful information, • Theory is brought to bear so that the problem can be understood and analyzed, • Explanation involves interaction between data and theory in order to make clear that which needs to be understood, • Prescription points to actions which can alter the course of events and deal with the problem.