Microeconometrics or Macroeconometrics?
Trying to pick a class for next semester and I'd like to hear your idea on the two subjects.
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Are you deciding in which to take as an elective? Even as a non finance/econ/business major I had to take both macro and micro economics.
What do you want to go in to in the long term? Macro as you should know is more about global issues that effect the economy, so if you want to be a trader, Macro would most likely fit you a little bit better. Micro would be better for the IB side as that deals with how companies work instead of the global economy.
@poster above - he's asking about econometrics, not economics.
I would go with macro, as that is the arena where econometrics is actually used more widely than micro... more data (both quantity and scope) to work with. Also more interesting to draw information from a larger scale, in my opinion.
I find it amusing your institution separates the two out, there. Did you already take basic econometrics, and these are advanced classes that focus solely on certain kinds of datasets?
Wow. I really need to sleep more often. I read the post like 3 times and didn't even notice that it said econometrics... This Mt. Dew Isn't working for me yet.
Where I went for undergrad, we didn't have a choice, we just had econometrics... I didn't have to take it as I was a CS major, but I remember everyone that I talked to that was taking said it was the hardest class they had to take in the program.
Likewise regarding the separation. It's a bit embarrassing if these 'things' actually exist and I don't know about it, given that I have a degree in Economics. I have personally never heard of anyone saying 'micro/macroeconometrics', where I'm from it's just econometrics and where you use it is down to you.
As someone that works as a micro-econometrician, teaches econometrics and with a PhD in Economics I can assure you there is a difference. Macro looks at longer narrower datasets, and micro looks at wider shorter datasets. They both have very different problems when it comes to creating reliable estimates and this is why the methods are separated out.
Yeah, they are electives after you take econometrics. I imagine you just focus on different datasets. Thanks for your input!
Macro more useful for life / job.
Micro more interesting, personally.
Micro or Macro class first for IB? (Originally Posted: 11/08/2013)
I can take either Macro or Micro next semester. Which which will help me more in ib interviews?
It seems like understanding the markets requires more macro knowledge, but people typically take micro before macro.
I would say micro, but to be honest, it doesn't really matter.
Are there any courses I can take that will help me in ib interviews? I'm trying to finish Micro and Macro as soon as possible so I can take courses like corporate finance and Financial Economics.
I'm taking Intro to Finance next semester and I'm an engineer, so I've got math covered.
Take whatevers easier. You can learn what you need to know for IB through reading on your own if you want to get to it.
Doesn't matter at all. Reading the WSJ everyday is way more important in terms of being familiar with the markets.
Macroeconomics is more fun to study in my opinion.
micro would be more related to finding the average effects of something like advertising on sales data; whereas macro could be more related to finding the average effects of something like unemployment on gdp data or the like. If I am wrong, feel free to correct me
Micro is more game theory base (at least my studies were).
Microeconometrics is just econometrics (regressions / line-fitting / data analysis) on a micro scale. Grossly simplified example, but: analyzing datasets for a single company vs. a global industry.
Dolore mollitia vero ut. Non asperiores nobis nulla ad fugit eveniet.
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