Tuesday , November 5 2024
Home / Real-World Economics Review / How to teach econometrics

How to teach econometrics

Summary:
From Lars Syll Professor Swann (2019) seems implicitly to be endorsing the traditional theorem/proof style for teaching econometrics but with a few more theorems to be memorized. This style of teaching prepares students to join the monks in Asymptopia, a small pristine mountain village, where the monks read the tomes, worship the god of Consistency, and pray all day for the coming of the Revelation, when the estimates with an infinite sample will be revealed. Dirty limited real data sets with unknown properties are not allowed in Asymptopia, only hypothetical data with known properties. Not far away in the mountains is the village of Euphoria where celibate priests compose essays regarding human sexuality. Down on the plains is the very large city of Real Data, where applied economists

Topics:
Lars Pålsson Syll considers the following as important:

This could be interesting, too:

Merijn T. Knibbe writes ´Fryslan boppe´. An in-depth inspirational analysis of work rewarded with the 2024 Riksbank prize in economic sciences.

Peter Radford writes AJR, Nobel, and prompt engineering

Lars Pålsson Syll writes Central bank independence — a convenient illusion

Eric Kramer writes What if Trump wins?

from Lars Syll

How to teach econometricsProfessor Swann (2019) seems implicitly to be endorsing the traditional theorem/proof style for teaching econometrics but with a few more theorems to be memorized. This style of teaching prepares students to join the monks in Asymptopia, a small pristine mountain village, where the monks read the tomes, worship the god of Consistency, and pray all day for the coming of the Revelation, when the estimates with an infinite sample will be revealed. Dirty limited real data sets with unknown properties are not allowed in Asymptopia, only hypothetical data with known properties. Not far away in the mountains is the village of Euphoria where celibate priests compose essays regarding human sexuality. Down on the plains is the very large city of Real Data, where applied economists torture dirty data until the data confess, providing the right signs and big t-values. Although Real Data is infinitely far from Asymptopia, these applied econometricians are fond of supporting the “Scientific” character of their work with quotations from the spiritual essays of the Monks of Asymptopia.

Ed Leamer

Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

Leave a Reply

Your email address will not be published. Required fields are marked *