Analysis of Economic Data (2nd Edition) by Gary Koop

By Gary Koop

Research of financial facts teaches tools of information research to scholars whose basic curiosity isn't really in econometrics, records or arithmetic. It exhibits scholars the best way to follow econometric strategies within the context of real-world empirical difficulties. It adopts a principally non-mathematical method hoping on verbal and graphical instinct and covers many of the instruments utilized in glossy econometrics study e.g. correlation, regression and extensions for time-series equipment. It comprises wide use of actual information examples and contains readers in hands-on desktop paintings. the recent variation comprises new fabric at the mathematical heritage required by way of scholars and, for these readers unusual with this heritage, a short clarification of the suitable arithmetic. subject matters lined contain: the equation of a directly line, the summation operator, and logarithms. the writer additionally incorporates a a lot larger dialogue of knowledge differences reminiscent of progress premiums and index numbers. extra fabric may also be further on facts assets, principally targeting web info sources.

Gary Koop has a truly excessive overseas profile within the box of econometrics and is celebrated for his books and various magazine publications.

The moment variation presents more advantageous assurance of the appropriate introductory arithmetic, together with: the equation of a instantly line, the summation operator, and logarithms. this may make the ebook extra available for these scholars who've restricted mathematical skills.

Greater dialogue can also be supplied of knowledge variations resembling progress expense and index numbers. Index numbers have gotten more and more vital and are usually utilized in economics courses.

More fabric can also be supplied on information resources, particularly web info assets that are turning into vitally important as a way of collecting info. a few scholars have hassle with the gathering of knowledge and the inclusion of this fabric may also help these scholars.

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Additional resources for Analysis of Economic Data (2nd Edition)

Sample text

2. 8% as high as in 2000. Calculating a fruit price index When calculating the banana price index (a single good), all we had to look at were the prices of bananas. However, if we want to calculate a fruit price index (involving several goods), then we have to combine the prices of all fruits together somehow. One thing you could do is simply average the prices of all fruits together in each year (and then construct a price index in the same manner as for the banana price index). e. a simple average would just add up the prices of the three Basic data handling 27 fruits and divide by three).

Countries with low population densities tend to have low deforestation rates. Note that we use the word “tend” here. A positive correlation does not mean that every country with a high population density necessarily has a high deforestation rate, but rather that this is the general tendency. It is possible that a few individual countries do not follow this pattern (see the discussion of outliers in Chapter 2). 3. Deforestation rates vary across countries as do population densities (the reason we call them “variables”).

We will refer to the PWT later in the chapter. uk). This site currently requires a registration process. It is worth noting that data on the Internet is often simply listed on the screen. You can, of course, always copy the data down by hand and then type it into Excel. But it is far less time-consuming either to save the data in a ﬁle (using File/Save as) or to highlight the data, copy it to a clipboard, and then paste it into Excel. To give you a ﬂavor for the kinds of data sets available from the Internet, and what Internet sites look like, we will focus on a common US website and a common UK site.