Statistics and Econometrics Unveiled - A Comprehensive Guide for Economists and Data Scientists
Pasquale De Marco
Publisher: Publishdrive
Summary
In today's data-driven world, statistics and econometrics have become indispensable tools for economists and data scientists seeking to understand and analyze complex economic phenomena. This comprehensive guide offers a thorough exploration of these powerful disciplines, providing readers with the knowledge and skills necessary to make informed decisions and accurate predictions. With a focus on practical applications, this book delves into the fundamental concepts, methods, and techniques of statistical inference, estimation, prediction, and econometric modeling. It begins by laying the foundation of statistical inference, covering topics such as the role of statistics in economic analysis, types of data and measurement scales, sampling methods, and probability concepts. From there, the book explores estimation and prediction techniques, examining point and interval estimation, hypothesis testing, linear regression, and model selection. It then delves into the realm of time series analysis, focusing on the stationarity of time series data, ARIMA models, forecasting techniques, and seasonal and non-seasonal models. To further enhance understanding of economic phenomena, the book covers econometric models, including ordinary least squares (OLS) estimation, generalized least squares (GLS) estimation, instrumental variables (IV) estimation, maximum likelihood estimation (MLE), and Bayesian estimation. It also examines limited dependent variable models, such as binary choice models, multinomial choice models, and ordered choice models. With a focus on practical applications, the book provides valuable insights into forecasting economic and financial variables, exploring time series forecasting methods, structural econometric models, Bayesian forecasting, and the evaluation and combination of forecasts. It also covers causal inference and impact evaluation techniques, including randomized controlled trials, observational studies, propensity score matching, regression discontinuity design, and instrumental variables methods. Our journey concludes with an exploration of the frontiers of econometrics, examining recent developments in econometric theory, emerging applications of econometrics, and the challenges and opportunities that lie ahead. We also discuss the ethical considerations and future directions of econometrics, highlighting its vital role in informing economic policy and decision-making. Written in a clear, engaging, and accessible style, this book provides a comprehensive and enjoyable learning experience for readers seeking to master the art of statistical inference and econometric modeling. With its emphasis on real-world examples and contextually relevant content, this guide is an invaluable resource for economists, data scientists, and anyone seeking to make informed decisions based on data. If you like this book, write a review!
Available since: 06/02/2025.
Print length: 171 pages.
