FEATURES OF A GOOD ECONOMIC MODEL

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FEATURES OF A GOOD ECONOMIC MODEL

A good Economic model should be able to make data “talk” even highly complex models should lead to simple displays of data.

Many researchers have found out that price inflation is highly correlated with money supply.

Scholars argue that a good theory should have high predictive powers. A model which cannot produce accurate results calls for replacement or modification through adding additional explanatory variables.

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Editor-in-Chief

Geoffrey Kerosi is a prolific Kenyan writer based in Nairobi City. He holds a Bachelors in Economics and Statistics and is currently pursuing Masters in Public Policy and Administration (MPPA) from Kenyatta University. Email: info@kerosi.com. Whatsapp: +254713 639 776 YouTube: Kerosi TV

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