ERIC Number: EJ1142873
Record Type: Journal
Publication Date: 2017
Time Series Econometrics for the 21st Century
Hansen, Bruce E.
Journal of Economic Education, v48 n3 p137-145 2017
The field of econometrics largely started with time series analysis because many early datasets were time-series macroeconomic data. As the field developed, more cross-sectional and longitudinal datasets were collected, which today dominate the majority of academic empirical research. In nonacademic (private sector, central bank, and governmental) applications, time-series data is still important. Consequently, undergraduate courses must still teach time-series econometric tools if educators are to best serve students. This article reviews the key models that the author believes are most critical for economics students: (1) autoregressive models; (2) distributed lag models; and (3) autoregressive distributed lag models.
Descriptors: Economics, Economics Education, Undergraduate Students, College Instruction, Models, Error of Measurement, Time, Statistical Analysis, Regression (Statistics), Prediction, Change
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Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Authoring Institution: N/A