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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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3 Comments

  1. Shondra Carsen Shondra Carsen 4th November 2017

    Great, thank you very much for your articles. I’ve read you for a long time. Thank you.

    • Editor-in-Chief Editor-in-Chief Post author | 7th November 2017

      Thank you for reading. We appreciate your time. Keep checking for more.

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