Question

write an esay about any subject in economy

Answer 1

Randomized Control Trial (RCT) is a systematic controlled process of defining the best possible way to implement a particular program on a specific population. The population is to be divided into intervention and control groups in a randomized manner to avoid biases. There can be any number of intervention groups and control groups. The control group or the effect of the intervention on it is taken as the benchmark for the other intervention groups, intervention groups are those groups in which we tend to apply our treatment or intervention to find out the effective outcome of it and afterward we can compare between the groups. Sometimes even a controlled group can be taken as intervention group and vice-versa but the condition under which we are applying the treatment should remain the same to get the best result out of it. While selecting the population for the trial, it should be taken care of that all the units of the population should have to possess the same characteristics. Again we have to ensure that all the units in the treatment group should receive intervention. For instance, suppose a govt. thinks about distributing tablets to children studying in govt. schools in one district to promote smart education and wants to assess its effectiveness before hands. So out of around three hundred schools in the district the govt. picks up a school in random and distributes its students into two groups in a random manner. One group is provided with tablets and the other is not and after three months their progress is assessed. The two groups can be altered among them and experimented again. From the experiment, the decision can be made whether to distribute tablets or not. While it comes to RCT we always talk about its benefit and in recent days, it has become able to attain popularity. The popularity is mainly because it contributes significantly towards reducing the bias in the experimental process. But it seems unfair to consider its benefit without considering the input cost & time needed to do the experiment, in many cases it has been found that the input cost needed to make trials is so high that it would take around more than ten year to reach at breakeven point. So definitely we have to use it more effectively rather than using it on each & every case, even I think in many cases we are not required to use RCT to find its application in the population as a whole,