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Pulling Econometrics Students Up by Their Bootstraps

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  • Michael E. O'Hara

Abstract

Although the concept of the sampling distribution is at the core of much of what we do in econometrics, it is a concept that is often difficult for students to grasp. The thought process behind bootstrapping provides a way for students to conceptualize the sampling distribution in a way that is intuitive and visual. However, teaching students to write bootstrapping code on their own would come at great expense in terms of instruction time. The author proposes the use of instructor-written macros as a balance between these opposing interests, and he focuses on the use of the nonparametric "pairwise" bootstrap procedure in order to make an intuitive link between bootstrapping and sampling from a population (one of the first ideas students meet in statistics).

Suggested Citation

  • Michael E. O'Hara, 2014. "Pulling Econometrics Students Up by Their Bootstraps," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(2), pages 121-130, June.
    • Handle: RePEc:taf:jeduce:v:45:y:2014:i:2:p:121-130
    DOI: 10.1080/00220485.2014.889962
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    References listed on IDEAS

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    1. William E. Becker & William H. Greene, 2001. "Teaching Statistics and Econometrics to Undergraduates," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 169-182, Fall.
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