Thursday, May 24, 2018

Data Fitting

I am taking a course in econometrics, and I am not enjoying it at all. I suppose I don't  have a head for statistics and that, coupled with skepticism  about the potential to untangle cause and effect in economics, is making the going difficult. I suppose an intuitive grasp of statistics would have allowed me to look at it as pure maths while suspending my skepticism. But, I am bad at it and don't particularly want to be good at it, which is a big demotivator.
When I was in school, I thought I was terrible at Maths because my sister was so good at it. Of  course, she never made me feel that way, and was, in fact, very protective of the meek mouse that I was for my first 11 years. Over time, I got over my mental block and although I am far from a math whiz, I am quite competent at it. Maybe it is the same with econometrics. The difference is I am not as perturbed by my lack of competence in econometrics as I was by my perceived lack of competence in Maths.
At least one good thing has come out of taking the course. Before taking this course, I used to think that econometrics is bull-shit and its practitioners were willful or ignorant charlatans. I don't think so any more. There are a lot of people do bull-shit econometrics but the good ones know what they are doing and are well aware of its limitations.

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