9th ERES Education Seminar Interdisciplinary research and quantitative techniques Paloma Taltavull de La Paz Universidad de Alicante Bratislava, December 2013

Agenda Quantitative tools for interdisciplinary education. Conditions Don’t forget Qualitative tools Conditions Levels Education requirements Interdisciplinarity means the need to have special data belonging to different knowledge areas, and combine them.

Conditions Type of analysis Data base available Quality of data How deep and precise the analysis is Theoretical framework Multidisciplinarity suggest several types of analysis: time series, crossection, space base analysis,… and combination of methodologies. For instance, migration and housing price analysis. Valuation using space analysis… DB and data quality are crucial for goo analysis

Theoretical framework Crucial to circumscribe the analysis (see Krugman post in his blog....) http://krugman.blogs.nytimes.com/2013/11/17/what-to-do-when-youre-wrong/?_r=0 Other analysis could be spurious or political driven more than academic Theory determines the variable relationships… giving the key for model definition and testing Not all theories are fully developed Opportunity for applied economic analyst to add knowledge

Levels (1) Quantitative methodology depends on the level of analysis Econometrics is a very dynamic topic Aggregate Time series … VAR framework Crossection … panel data Dissagregate analysis: local, spatial Spatial econometrics

Levels (2) How deep the analysis is Descriptive (it is not considered as analysis) But in new or complex data, description is crucial Testing hypothesis Precise estimations: elasticities, forecasting

Education requirements Applied economic academic is difficult job! And worst in real estate Needs to be well prepared and skilled in theory, data base management, testing methods, econometric methods, …. And interpretation Strong education in quantitative techniques But not all at the same time… depending on the needs But.. Be updated in econometric techniques