Every once in a while, my Facebook meanderings lead me to a fruitful analytics destination. And so it was last week when I stumbled across an interesting article: “Improving the Teaching of Econometrics”, by university professors David Hendry and Grayham Mizon.
It's been quite a while since I studied econometrics, but as I've glanced at leading texts over the years, I've been struck by how similar the field remains to the one I was exposed to 35 years ago. Back then, econometrics revolved on progressively complex statistical formulations, generally variants of linear regression, purporting to estimate and test progressively complex economic models.
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