Economics Data Revolution

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Economics Data Revolution

The Bloomberg view has published a great blog post by Noah Smith titled: The Economics Data Revolution.

The author points out the Economics is generally moving away from use of theories only towards understanding both theories and huge data sets.

He points out that most economists churn out research papers using sample sizes which are too small.

If you meet five Dutch people and they’ll all little bit short, it’s easy to come to the incorrect conclusion that Dutch height is below average—when in fact, Dutch people tend to be very tall. If you meet 1,000 Dutch people, you wouldn’t make this mistake.- Noah Smith, Columnist at Bloomberg View.

This is a clear call to all of you economists out there to use large sample sizes in your research studies in order to get accurate results which can be replicated elsewhere.


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Geoffrey Kerosi is a prolific economics writer and an avid reader in economics, finance, business, politics and technology. He holds bachelors' Degree in Economics and Statistics from Kenyatta University. He has over 4 years of extensive experience working as a Policy researcher and Budget Analyst for Civil Society in Kenya. Contact: Email: Phone: +254 713 639 776 (Whats-app only) Twitter: @gkerosi

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