Everything You Ever Wanted to Know About Building Your Econometrics Model

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There is little doubt that every economic theory we studied is based on theoretical modeling first. It sprouted from an idea which later on was served to the world with improvements; assumptions, hypothesis tests and results came into prominence. These models are all the simplified versions of reality. Starting from the most basic law of …

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What is time-series data? What are its components?

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Time series data is a chronological sequence of a series of values of a variable. In other words, the data is time-stamped. It can be a discrete or continuous time series. Discrete-time series are observations taken at specific times while continuous time series are observations that are made continuously over time. It can be univariate …

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Top 3 Model Specification Tests in Econometrics​

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Top 3 Model Specification Tests in Econometrics Ramsey’s Reset Test Non-nested F test or Encompassing F test Davidson Mackinnon J test This test is used to test mis-specification of models. In this test we run regression on model 1 and obtain estimated value of regressand and then use the square and cube of  estimated value …

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5 YouTube Channels for learning Econometrics online

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During the lock down, classes shifted online and few YouTube channels started imparting the knowledge in a new avatar. As we know, learning econometrics online or offline is a tedious affair. But, these channels’ approach to present the subject to the audience have a different hue altogether. Fresh outlook and precise explanation. We present you …

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5 BEST Econometrics (EASY) Books for Beginners No One Wants to Reveal

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5 BEST Econometrics (Easy) Books for Beginners No One Wants to Reveal To decide on the Econometrics books is not easy for a beginner. One can feel overwhelmed with the content of the books if one is unfamiliar with the concepts of Mathematics, Economics and Statistics. Most of the Universities prescribe following two books; Basic …

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Heteroscedasticity test procedure: 5-steps method to understand Goldfield-Quandt and the White Test for Heteroscedasticity

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Goldfield-Quandt Step 1: Get the data. Step 2: Second step involves arranging the X1 values from lowest to highest order. Then, divide the series into two groups, n1 and n2 and remember n1, and n2 must less than N/2. n1,n2 being the size of first and second group respectively and N is the size of …

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An Essay on Panel Data in Econometrics?

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Panel Data, also known as Longitudinal data, is a combination of both Cross-Section and Time Series Data. It is usually called Cross-sectional Time-series data as it is a collection of observations for multiple subjects at multiple instances. Panel data series can be any of the following four types. Long Panel Data Wide Panel Data Balanced …

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11 Highly Useful Blogs and Vlogs to Learn Econometrics

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To master any subject you need tools, resources and strategy. In order to help you master Econometrics, I am providing here, 7 highly useful blogs and 5 YouTube Channels, where you can find the tools, resources and strategy to learn Econometrics. 1. https://davegiles.blogspot.com This is one of the most famous blog on Econometrics by Dave …

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How to learn Econometrics in Hindi WITHOUT a Hindi Textbook!

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How to learn econometrics without hindi textbook? Want to learn Econometrics in Hindi and found no textbook in your preferred language? Econometrics textbooks in Hindi are rare to find. I understand the frustration to find all the major econometrics textbooks published in English language. Even though we are well conversant in English textbooks, an explanation …

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13 Most Common Econometrics Models for Researchers and Students

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Last week, I talked to a lot of students of Econometrics regarding the most difficult challenge they faced in Econometrics. The most common issue that emerged out of that discussion is constructing an econometrics model that is suitable for the data in hand and/or real world. Most often, data is not reliable as economists have …

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