How to Structure an Empirical Business or Economics Paper: A Step-by-Step Guide for High School Researchers

Conducting independent research in business, finance, or economics is one of the most rewarding academic challenges a high school student can take on. Whether you are analyzing local market pricing, testing an econometric model on minimum wage laws, or evaluating corporate ESG metrics, turning raw data into a compelling manuscript requires clear organization.

While natural science papers follow a standard lab report format (Introduction, Methods, Results, Discussion), empirical papers in business and economics have their own distinct academic conventions.

Whether you plan to submit your work to a student journal, present at a symposium, or archive a working paper on a repository, this guide breaks down how to structure your manuscript step by step.

Figure 1

1. 1Title & AbstractThe snapshot
2. 2IntroductionWhy it matters
3. 3Literature ReviewWhat is already known
4. 4Methodology & DataHow you tested it
5. 5Empirical ResultsWhat the data shows
6. 6DiscussionWhat it means
7. 7Conclusion & ReferencesThe takeaway

1. Title Page & Abstract: The Gateway to Your Research

Your title and abstract serve as a quick snapshot of your entire study.

• The Title: Keep it precise and informative. Avoid generic titles like “Economic Analysis of Coffee Shops.” Instead, frame the scope and methodology: “The Impact of Local Minimum Wage Hikes on Small-Business Profit Margins: A Case Study of Suburban Retailers (2020 to 2024).”
• The Abstract (150 to 250 words): Write this section last. A strong economics abstract summarizes four core elements in a single paragraph:
  1. Research Question: What business or economic phenomenon are you investigating?
  2. Data & Methodology: What datasets did you collect, and what framework (for example, linear regression, survey analysis, or case study modeling) did you use?
  3. Key Findings: What do the empirical results actually show? Include key metrics or statistical findings.
  4. Implications: What does this mean for business decision-makers, consumers, or policymakers?

2. Introduction: Framing the Economic Problem

The introduction brings the reader into your topic and explains why your research matters.

• The Hook & Context: Introduce the economic concept or market behavior you are studying. Establish why the issue is relevant in today’s economy.
• The Research Gap: State clearly what is missing in current student literature or local data. For example: “While national studies examine corporate supply chain delays, little empirical data exists on how suburban small businesses adapted inventory strategy after 2022.”
• The Core Thesis or Research Question: Explicitly state your primary question or hypothesis.
• Paper Roadmap: End the introduction with a brief two-sentence guide to the paper’s structure: “Section 2 reviews existing literature. Section 3 details our data collection and model. Section 4 presents empirical findings, followed by discussion and policy implications in Section 5.”

3. Literature Review & Theoretical Framework

Before introducing your own findings, you must show that you understand existing work in the field.

• Synthesizing Prior Work: Group existing academic literature by themes, theories, or conflicting conclusions rather than summarizing paper by paper.
• Theoretical Framework: Define the core economic theories or business frameworks guiding your research (for example, Price Elasticity of Demand, Porter’s Five Forces, the Efficient Market Hypothesis, or Behavioral Nudge Theory).

4. Methodology & Data Specification

This section is the analytical foundation of your paper. Another researcher should be able to read it and replicate your study exactly.

Table 1 · What your methodology section should cover

Data Overview	Analytical Model
Data sources (FRED, Census, etc.)	Mathematical or statistical formulas
Sample size and time period	Variable definitions (dependent and independent)
Data cleaning and exclusions	Qualitative coding (if applicable)

• Data Collection: Detail where your data came from. Did you scrape financial statements, pull secondary data from FRED (Federal Reserve Economic Data), or run a primary survey of 200 local consumers?
• Variable Identification: Define your dependent variable (what you are measuring) and your independent variables (what you are manipulating or evaluating).
• The Model: Write out any regression equations, mathematical formulas, or qualitative coding frameworks clearly, using standard notation.

5. Empirical Results: Presenting Findings Objectively

In this section, present what your data revealed without adding subjective interpretation.

• Use Tables and Figures: Tables and clear data plots make complex economic findings easy to scan. Label every table completely, with units, sample sizes (N), and source notes.
• Highlight Key Metrics: Describe in the text the most significant trends, correlations, regression coefficients, or p-values shown in your tables.

6. Discussion: Interpreting What the Results Mean

This is where you connect your empirical results back to real-world business strategy or economic policy.

• Real-World Application: What do your findings suggest for business managers, investors, or local government officials?
• Comparison to Prior Studies: Did your results align with existing economic theory, or did your data reveal an unexpected anomaly?
• Limitations: Every honest research project acknowledges its boundaries. Discuss limitations like small sample size, potential survey bias, or omitted variable bias.
• Future Research Directions: Suggest how future high school or university researchers could build on your work.

7. Conclusion & References

• Conclusion: Summarize your core thesis, key empirical findings, and primary takeaways in two to three concise paragraphs. Avoid introducing new data or arguments in the conclusion.
• References: Make sure all academic citations follow one standard style guide consistently (typically APA for business and the social sciences, or Chicago for qualitative economics). If you are submitting to SJBE, use Chicago / Turabian, as described in our submission guidelines.