So how far do you advance the Economic tech over the military tech?
If, for example, your highest economic tech investment is 10,000 RP for mining 3, what level is your highest weapon, shield and/or fire control system tech at? 2,000 RP? 4,000 RP?
I figure that the investment in Industrial tech will be proportional to the Build Points invested in that particular industry, with Shipyard tech getting a bit of a bump because it goes up faster. So the priority probably goes Mining tech, refining tech, construction, shipyards/research, and ordnance at the bottom of the list.
Fighter production and Fighter Capacity won't become important until 3 launch rail tech becomes available. I can design a size 2 fighter missile that can actually damage a moving ship. Decoy missiles, sure. Anti-missile missiles, sure.
Because they have roughly the same purpose, I think that Refinery tech deserves the same investment as Fuel Efficiency and Engine Tuning combined.
Engine Tech is clearly a priority. I can see developing the Magneto Plasma Drive (at 32,000) before Mining-4 (20,000 RP)
In terms of roleplaying, I see a certain awkwardness in a race with virtually no weapons/shields/fire control tech trading economic expansion tech for military tech. Military tech for military tech, not a problem. Economic tech for economic tech, not a problem, but when you are trading military tech for economic tech you are revealing a fundamental difference in research priorities.
The race with the military tech will worry about the economic juggernaut which now has up to date weaponry. The economic tech race may worry less, in giving a military race an alternative expansion option. This is a roleplaying concern, not a mechanics concern.