How to write dissertation in methodology of econometric modelling

Introduction

Econometric has been explained as an economic theory which has its association with statistics and mathematics. In other words, it can be explained as having association with measuring economic relationships. The econometric is a mixture of three wide branches, economics, mathematical economics and statistics. This field of economics aims at assigning numerical values the different parameters of economic relationships which are usually defined in mathematical forms and integrated with empirical economics. To identify the values of parameters the econometric methods are used. Econometric methods are actually the statistical methods which give an idea about economic phenomena^[1]. The significance of econometric methods is that it has large scale application in different areas like engineering, sciences, medical science, agriculture science etc. To summarize, the econometric methods are helpful in order to know about the stochastic relationship in mathematical format and identifying the relation between the different variables. The figure given below gives an idea of writing a dissertation in econometric methodology.

Figure 1 Econometric theory (Source:Brainkart.com)

In the contemporary academia-research world there are being conducted research on several new topics, consequently leading to evolution of some new domains. There are different domains preferred by the candidates for pursuing their masters or PhD’s. The procedure required to be fulfilled for achieving any of these degrees remains almost the same. Successful completion of any of these degrees requires a candidate to go through different steps, the dissertation submission being the most important one among them. Submitting a dissertation successfully requires one to be careful and attentive towards the details to be followed for completing the dissertation. Though the organization of dissertation remains same for all the domains but the style of presenting content varies^[2]. For example, in our case, the dissertation is framed for econometric modelling. Thus, it becomes mandatory that the facts are illustrated through properly illustrated figures, rather than emphasizing the theory part. Similarly, to write a dissertation in econometric methodology it is of paramount significance that a candidate follows a proper plan.

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Dissertation in Econometric Modelling

It has been discussed in the previous section that econometric modelling is integration of statistics and mathematics, thus it requires one to be familiar with the methodology of econometric modelling. Methodology here refers to the methods of study used for the particular field^[3]. In this section emphasis will be laid on knowing about writing a dissertation on methodology of econometric modelling.

Important Tips

In order to write a dissertation for methodology of econometric modelling it is necessary that the candidate is familiar with the term and its applications^[4]. Also the candidate should be aware of the methods used for econometric modelling. This information will be helpful in planning the content for dissertation^[5]. Some useful points are mentioned below:

1. To write a dissertation on methodology of econometric modelling, one should first choose the model which can indicate the different features of the phenomena being studied. The primary aim of modelling is to explain a complicated process through a simple model. Thus, in the abstract one should clearly describe the model used and approach followed. Also a snippet of the tools used by the candidate should be provided.
2. The model chosen by the candidate for writing a dissertation in methodology for econometric modelling should contain all the variables as they will be helpful in describing the behaviour of the economy.
3. The methodology chosen by the candidate should be sufficient enough in interpreting the probability and its suitability for the data gathered. There are available several different approaches so the candidate should discuss the approach to be used in dissertation with his guide.
4. There are some basic methodological issues associated with econometrics such as application of probability theory to economics and the mapping between economic theory and probability issues.

Summary

It can be explained from the above discussion that the methodology of econometrics is not confined to the study of some specific econometric techniques; rather it is a meta-study which exhibits the contribution of econometrics to economic science. A candidate planning a dissertation in methodology of econometrics modelling has to keep in mind the primary issues associated with the field and should suggest some novel approach to resolve the issues in a more efficient manner. To formulate a well-planned dissertation the candidate should have in-depth knowledge of how the approaches can be applied to the models and alleviate the common issues. Apart from the afore-mentioned points the candidate should also discuss the different methodologies, their pros and cons and then discuss the proposed methodology and its significance.

References

[1] Gruszczyński, Marek, Dudycz, Tadeusz, Osbert-Pociecha, Grażyna,  Brycz, Bogumiła (2018). Financial Microeconometrics as Research Methodology in Corporate Finance and Accounting. Springer International Publishing. SN  – 978-3-319-68285-3

[2] Faryadi, Qais. (2018). PhD Thesis Writing Process: A Systematic Approach—How to Write Your Introduction. Creative Education. 09. 2534-2545. 10.4236/ce.2018.915192.

[3] Journal of Econometric methods. De Gruyter | Published online: January 27, 2021

[4] Nino Mikiashvili (2018). The empirical economics and development of econometrics.

[5] Peng, Weijia (2020). Essays on forecasting methods in high-frequency financial econometrics. Retrieved from