My final for my intro econometrics class is a paper. The topic can be anything I choose. I'm not quite sure what I want to do it on. Obviously, much depends on actual complete data sets that are available that I can use. Basically, I need to be able to collect data and run regressions on a data set to prove or disprove my initial hypothesis. I know Austrians aren't the biggest fans of econometrics, but I'd appreciate some input. Any ideas?
Try to "prove or disprove" whether women are paid less than men. Here are a few links to libertarian stances:
http://candlemind.com/projects/progclub/file/michael/getEducated.php?listID=14
Control for different variables.
I know it's not perfect (at all), but why the heck not? Running numbers is fun.
Also, as a person who will likely be taking econometrics within a year, I'm interested in knowing how difficult the class was. Thanks!
do you consider yourself an expert or at least very knowledgable in anything? or have a passion? if so what?
Test...(I posted but nothing happened, therefore the test)...
"Try to "prove or disprove" whether women are paid less than men. "
I've actually thought about that one. I've poked around a bit to see if there are any good data sets available. I've also thought about writing the paper on the effects of minimum wage laws on unemployment. I figure data should be fairly easy to come by for that. What do you think?
"Also, as a person who will likely be taking econometrics within a year, I'm interested in knowing how difficult the class was. Thanks!"
Its a bit more challenging then an intermediate macro or micro class (those I flew through). Definitely take a good intro to statistics class before you take it, its all statistics. I guess it kind of depends on the teacher, too. I'm not too impressed with mine. She's one of those professors more concerned with her own research rather than actually teaching students. I spend most of my time teaching myself through various online sources for each topic that comes up. We've already had over half the class drop out. Maybe 8 of us left. Its challenging but not hard enough to not get an A if you just show up and put forth some effort. I don't think you'll have a problem with it at all considering you read economics for fun. I haven't had a really hard economics class yet. I'm challenged a lot more by discussions on this site than a college economics class.
Oh yeah, and the textbook we're using is "Essentials of Econometrics" by Gujarati. I got nothing to compare it to, but I'm not its biggest fan.
"do you consider yourself an expert or at least very knowledgable in anything? or have a passion? if so what?"
Not in anything in specifically that jumps right out at me and makes me want to write an econometrics paper on. I'm thinking maybe something to do with effects of a government policy on a particular economic variable, such as wage mandate on unemployment. Or maybe something to do with monetary policy.
By the way, how do you block quote? I was using the forum tool but when I clicked post apparently nothing posted.
How about an econometrics paper on the value of econometrics without the presence of the state?
Read until you have something to write...Write until you have nothing to write...when you have nothing to write, read...read until you have something to write...Jeremiah
"How about an econometrics paper on the value of econometrics without the presence of the state?"
I'm confused. Would you like to elaborate on that, please?
I've recently been interested in using econometrics to try to disprove econometrics techniques.
As in create an artificial data set with hidden variables that when analyzed using standard econometrics techniques gives the wrong answer.
"As in create an artificial data set with hidden variables that when analyzed using standard econometrics techniques gives the wrong answer."
This sounds quite interesting.
Oh! I'm working on my own econometrics paper. Do you need to do a multiple regression or a simple regression for your paper?
I'm working on using budget information from my student government. My goal is to prove that there is rent seeking involved in how my student government gives out money. It's pretty fun running the numbers to be honest.
What are your interests? If you choose something you're interested on the whole paper becomes cake.
Edit: What program are you using to run your regressions btw?
I know Austrians aren't the biggest fans of econometrics, but I'd appreciate some input. Any ideas?
There is nothing wrong with applying methods of econometrics now and then, as long as you understand what you are doing and why.
What is your goal you are trying to achieve with the paper? If you just want to demonstrate you can go through the movements - use whatever topic is the most touted by the prof. If you need to actually come up with some useful result - you need realistic data. So, what kind of data can you obtain? Be wary of various governmental sources of data, they are often biased. Better, use data gathered by some business to tell something useful about the business. Ideally, to improve the business. You may need some inside connections, though, or you will get garbage data for sure. Any of your friends or relatives running a small biz and not minding you observing and measuring it?
BTW, just curious, is your professor a Bayesian or a frequentist?