There's always this one guy asking questions during the lecture and I'm very confident that he has the same voice in ANY classroom EVER. Like 96% confident.
I felt sad when students walked out of the class. Me being post-graduate in Statistics could easily distinguish between his teaching style and my professor's while teaching regression models. I am astonished to see how beautifully he connect ideas. Great lecture series. Thanks professor!
Nice to see a prof who likes teaching! Most universities emphasize research at the expense of teaching because research is what gets the funding. Too bad.Teaching is a very precious commodity! Can make the difference between pass and failure. Training good practioners is also very important.
I am from India and I'm pursuing my PhD in applied economics. I love the way you teach. Its so rude that some of the "students" are leaving the lecture. Like the prof said in the previous class, if you can't have a lecture for that long, may be you shouldn't be in college.
is it just me or what ? i cant help but smile throughout the class... and i think that is just the most beautiful way to take a class on any subject. thank you
I've been watching your videos to supplement my own learning in my econometric class. It is obvious you are an amazing educator! Every concept you explain goes towards understanding the true meaning of the relationships. Thank you for sharing your knowledge
Professor Thoma your lectures are just like my professor's. I graduated but I dont want to forget the things I have learned especially econometrics which I enjoyed very much, your lectures are great for keeping econometrics as a sort of academic hobby. Wish you had the Lab sessions with Eviews as well
mark thoma's the man! everyone in econ 420 (320 now) should definitely watch this clip before the final. sure, this is 421/521 but in one lecture mark covers a ton in a super concise fashion. perfect!!
Hi, I am a student from Singapore. I appreciate the videos you put up. I view your videos Lecture 1 and Lecture 2, and it gives me in-dept understanding of econometrics. Most of the students here in Singapore dislike this as it is a killer subject but you sir, make it seem bearable. :-) Thank you. Keep on posting.
It’s crazy how professors in the western world treat students so well, and the students can be so rude. How dare you get up and leave in the middle of a class, jeez 🙄
upvote for visibility: the degrees of freedom should actually be 22. It's number of observations minus the number of parameters in the model minus the number of observations lost due to the Gt-1 lag. This is 25-2-1=22
I always hated econometrics because my instructor was like a book. He just wrote formulas on board and I lost my connection after 2 weeks. What is t what is F, R^2, I had no idea. Your videos are good for 2 reasons: - You give intuiton before a subject - We can go back and listen to what you said many times - Freeze the screen and write it but there is a guy always asking questions just before you finish a concept. It stays half and you go back. its good to ask question but his timings are bad
Dear Mark i am from England, and i really like your vedios, i have seen most of them. so i request you to please keep loading you vedios, as these are very helpful for the student across the world.
awesome that Mark built on the collinearity in the previous vid and introduced multicollinearity. felt like I had to learn to re-interpret something! now it's just a consistent application.
Well i think its a great start if you have an idea about regressions (you may have studied it in intro statistics class). My guess is that the way this particular module works in that specific university is that students learn economics 420 on basic concepts of regression and OLS in Autumn term and move on to 421 (this course) to study it in Winter term. So, some prior knowledge of econometrics/statistics is assumed.
At 29:10, why is sir marking everything on the distribution of the error term and not the distrbution of b2 estimator? Should we not find the t-stat in the distrbution for the the b2 estimator. And therefore, won't the mean be centered around true b2 = b2hat instead of 0?
Ok, now that I've heard about this Jeremy person so many times, and that he's Bayesian, I am really intrigued. I wonder if this Jeremy person also has good videos like these.
I overally like the lecture, and I understand the video is already produced long time ago, so this feedback wouldn't matter as much, but I wish he went over each example till the end up to the point where we get answer, so that we can fully make sure that we understood how to solve the problem.
Don't remember it like this. The degrees of freedom depends on the trace of the matrix. It's like this E[e'e]=traceE[ee']=E[trace[ee']=sigma^2*trace[M]=sigma^2*(n-k) or in other words, sigma^2 = e'e/n-k This is the reasoning behind it. You need to fix k parameters in order to calculate a third, in order to calculate beta you don't need to fix anything so the degrees of freedom for beta is n, for sigma it's n-k, and so on, if you have more complex models.
Prof Thoma if your goal is learning well o have something to share with you I'm an independent learner finished micro and macro economics I was looking for an economics wtihvabzest of thrill, something new I havent had-that's what this class makes me feel It's been a rewarding experience and a wonderful coincidence for stumbling upon your channel I cannot stress enough how much you give for free and for everyone in the US and the rest of the World A huge thank you sir for now If I used any models and become prosperous , I'll ensure to make a special visit to your place and return the seeds that you once sow into my mind Thank you professor Mark Thoma
I think it´s as basic as it gets regarding econometrics. You need to take a course in basic statistics, have an idea of OLS. At least in Argentina we study this in a previous statistics course, called just statistics! Econometrics starts from that. But this is very clear, the lessons are great and you can figure it out perhaps getting an introductory book to study with. Basic Econometrics, Gujarati might be ok. Good luck.
Dear MT: At [school that will remain unnamed] part-time MBA classes were filmed and posted on the intranet. Some faculty opposed the filming for the same reason you mention - video as substitute instead of complement. But: 1) I didn't really have that problem b/c class participation was a large part of the grading; CP also big part of learning for students. 2) Students who consider video a substitute probably won't make a positive contribution to classes even if there. JCS
The better students come to class and ask questions... They remember the discussions of their questions and learn better than the students who don´t come to class.
If OLS holds all other variables constant, how does it detect that another variable is correlated with the variable of interest? That is if there is multi-collinearity between X2 and X3, how does OLS know since it holds X3 constant? Did I say that right?
For you T statistics and f- statistics, I was taught the formula for the DoF to have (n-k-1).Curious to why you have left out the 1? Thank you Great Videos!
hi professor, thank you for your video . do you also have solved questions for practice.Your help would be highly useful for lost students like us. thank you again .
The videos are truly informative but there is this one thing that still puzzles me. Why do some of the equations the error term, u, has a subscript, i, and some of them doesn't? How do you know if you have to put a subscript or not and how does the meaning changes when you do that? Thank you, Mr. Thoma for sharing your knowledge.
Great vid proffesor Mark! i think i'm your first Chilean student probably. I know this is free and all but if it isn't much to ask could you tell me if i'm missing some class between video 1 and video 2? first vid was 100% self explanatory but seems that in order to understand this class we need some background on t-statistics, RSS's , F-tests, i'm a little rusty on statistics is there any complmentary reading material for this class?
23:07 I think you're cool, Mark ~ students are busy making some of the hardest decisions in their lives every day; many of them are not going to know the magnitude of those decisions, but on the odd occasion they do. It bothers you, find out - you have the right be curious and they should be forthcoming enough to honor you with a reply.
