โพ๏ธAsymptotics
There are a couple of concepts that are very useful when we do asymptotic analysis:
Convergence in probability, which is often used when we want to show that a sequence of random variables (typically a sequence of estimators) converges to a specific value when sample size grows large.
Convergence in distribution, which is often used when we want to show that a sequence of random variables (typically a sequence of a rescaled version of the estimators) converges to a specific distribution.
Before starting the minor Applied Econometrics, it might help to read more about the important concepts that were listed and intuitively explained in the last pages. You can use the references mentioned at Literature. It can give you a swift start into the minor program!
No worries if you do not master everything in complete (mathematical or statistical) detail. Of course, the more you know already, the better; but the most important is that you understand why the concepts are crucial and useful to the field of econometrics. We hope you'll enjoy the program!
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