Machine learning or econometrics?

What are the opinions on econometrics vs. machine learning for predictive analysis in macro finance?

If one only had a masters econ type background with basic stats, math, and programming which route would one recommend?

What is the best self stuff approach for machine learning for predicative forecasts?

 
Research Analyst in AM - FI:

What is the best self stuff approach for machine learning for predicative forecasts?

There are many ML courses on coursera,org the best one's are currently in russian language, but you can try this one https://mlcourse.ai/ it's free and had a very good feedback from ODS community. This all provided that you know Python, so if you do, while progressing through the course join kaggle.com, pick any competition and try to make your first submission using what you learned. You do not need to have a lot of knowledge about ML to do this, start early and DS competitions will help you learn much faster and understand how to approach different kind of problems.

You killed the Greece spread goes up, spread goes down, from Wall Street they all play like a freak, Goldman Sachs 'o beat.
 

The answer dependent upon the level of your math skills, when you say 'basic math' does that include up to calc 3, linear algebra, optimization etc? That is the foundation of Machine Learning.

If you have a MS in Econ I would say pursue econometrics and be familiar with implementing ML models through python. Understanding whats under the hood may take more time.

 

I am currently enrolled in a B.s. Econometrics & Operational Research and before we even started with Econometrics we had 1 semester in: Linear Algebra, Probability Theory, Programming, and Statistics throughout the first year. Furthermore, we had the whole first year Analysis, which was a blend between Calc 1, 2, and 3 and Real Analyis. Some knowledge of Numerical Methods is preferable. Again, this is something that our university thinks you need to have as a foundation before you start.

 

Going for econometrics would be easier as it is less stuff to kearn, ML you need calc 3, strong programming and a pretty strong base in stats. If you are up for learning that, go for ML as the extra you learn will be useful material if you dabble in econometrics also

 

Odit enim aut nisi minima. Natus tempora sit sed est perferendis ex non.

Voluptatem aut quibusdam dignissimos quia quasi soluta. Iusto quos nisi quaerat maiores. Molestiae ut omnis non officiis nemo vel. Ratione quia error officia corrupti atque corporis. Alias officia vitae quis nihil sed sequi.

Voluptates et officiis ipsum. Ipsa nisi distinctio doloribus aliquid. Voluptatem modi repudiandae hic dignissimos maxime voluptatem. Enim illo laboriosam eius est soluta omnis incidunt. Officia sit earum nihil quia et rerum. Explicabo ut sed et et in.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
kanon's picture
kanon
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”