Math Is Fun Forum

Newman

Member

Registered: 2015-09-21

Posts: 42

Econ Models

I was wondering if anybody here knows a great place to start familiarizing myself with economic modeling? I believe DSGE is the most common? I've done IS-LM type stuff but just want to begin learning the language of sophisticated vector regression analysis. Also, if u know the software or other tools I will need? I realize I'm rambling and jumping around a bit but I kind of want to have someone break it down for me a bit so that I can be thinking clearly and planning my education on the topic properly.

Thank you!!

Newman

Member

Registered: 2015-09-21

Posts: 42

Re: Econ Models

Well, I downloaded G7 and am starting with a pdf titled The Craft Of Economic Modeling by Clopper Almon. It seems like a good intro but...If anyone knows anything about this stuff, lemme know. Thx.

bobbym

bumpkin

From: Bumpkinland

Registered: 2009-04-12

Posts: 109,606

Re: Econ Models

Hi;

Can you post a problem in that?

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In mathematics, you don't understand things. You just get used to them.
If it ain't broke, fix it until it is.
Always satisfy the Prime Directive of getting the right answer above all else.

Newman

Member

Registered: 2015-09-21

Posts: 42

Re: Econ Models

Hi;

Can you post a problem in that?

Absolutely. http://inforumweb.umd.edu/papers/publishedwork/books/craft1.pdf The first model, which is something I basically already know pretty well, begins on page 15. However, model 5 begins on page 41 and I'm not sure how a mathematician would view this type of thing.

There are many formulas but they are part of a model so it's written with a combo of english and math. If this format doesn't work for ya, I completely understand. Let me know if you need the question phrased differently from me. If you feel like looking it over, I'm sure you'd have some insights but it doesn't appear to be a cut and paste type thing.

Again, I've only worked through model 1 which I understand well just from my econ background and the math is pretty simple. Although, I could see how the concepts could be difficult for someone with no econ background.

And let me know if there is a better way to address this. My questions will get more specific as I go on with this so I apologize in advance for any inconvenience. Haha.

Thanks