PakistanAfter the dramatic failure of economists to predict the Global Financial Crisis, Krugman said that “the profession as a whole went astray, because they mistook the beauty of mathematics for truth” (see Quotes Critical of Economics). Many people have independently arrived at similar conclusions – current educational methods train students using mathematical theories not connected … Continue reading »
In his Guide to Econometrics, Peter Kennedy writes that, even though the concept of distribution of random variables is the most basic and the most important concept at the foundation of all of statistics and econometrics, very few students actually understand what this means. My own teaching experience with students who have taken statistics and … Continue reading »
I have many lectures about advice to students in process of writing M.Phil. or Ph.D. thesis proposals, and/or the actual thesis. The most comprehensive advice is contained in the IIIE Student Guide to development of M.Phil. Research proposal. This entire website is a step-by-step guide about how to write an M.Phil. Thesis proposal. Other than … Continue reading »
Dear Pakistani Economists – friends, colleagues, students — This website is a branch of the World Economic Association, which strongly rejects conventional economics (as fairy tale economics) and works on creating Real World Economics. There are MANY, MANY elements which are extremely different when we want to do real world economics, as opposed to theoretical … Continue reading »