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)

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
 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.

Interesting blog:How to build empirical modeling for economic dissertation

research

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 field3. 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

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.
should be aware of the methods used for econometric modelling. This information will be
helpful in planning the content for dissertation5. 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.

5
Peng, Weijia (2020). Essays on forecasting methods in high-frequency financial econometrics. Retrieved
from https://doi.org/doi:10.7282/t3-jrrw-0996