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Macroeconometric Forecasting Courses

What is Macroeconometric Forecasting?

Forecasting the economy has always been challenging. Most macroeconomic forecasting models work on theoretical frameworks, but following the development of Keynesian Economics, more economists began using big data based on past correlations to predict future events.

Macroeconometric models utilize this data from large scale ingestion, taken from macroeconomic variables like product accounting variables or national income. These models provide a different approach to understanding and predicting economic growth.

While some economists have criticized the use of real data -- noting that past data doesn't account for national and local policy changes -- others believe that these equation models provide more accurate pictures of economies' genuine movement.

As data gets bigger and our econometric models get more complex, the use of mathematic models could help us see the large patterns we've missed before. Continuous model-building may help us get around the obstacles we've faced previously trying to understand the complexity of macroeconomics.

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Learn about Macroeconometric Forecasting

If your work includes model building and you're interested in prediction and shaping economic policy, courses and certifications in macroeconometric forecasting could be the right path for you. You'll learn not only the models used -- think vector autoregressions or time series forecasting -- but also the foundational principles behind macroeconomics.

edX offers both macroeconomics courses and courses designed to teach the statistical models and model evaluation methods in macroeconometrics. You'll take courses with students from around the world with leading thinkers and institutions in the field. If you're ready to transform your learning, edX is ready with the path.

Macroeconometric Forecasting Courses and Certifications

International Monetary Fund (IMF) offers an online course specifically for Macroeconometric Forecasting. You'll receive hands-on instruction for common functions such as vector error correction models (VECMs) using popular software, EViews. You'll also learn the properties of time series data and model design.

For a primer on macroeconomics theory, you can take a variety of courses. DoaneX offers a foundational course in macroeconomics theory. The University of Queensland provides an introduction course, Macroeconomics Performance Indicators, that offers insight into different models of economic growth.

The University of Queensland also offers an introductory course on International Macroeconomics, where you'll learn forecast evaluation expanded beyond a single country's borders. Learn fiscal policy and take part in forecasting exercises beyond the United States and into the monetary policy of a wide variety of countries.

Macroeconometric Forecasting -- The Future of Global Forecasting

Macroeconometric Forecasting offers insight into the real indicators of growth and recession. You'll be able to develop models that account for variability and look into the big data present in economic forecasting. 

You can build a career in understanding economics on a massive scale as well as building ever more accurate models to account for growth. As forecasters look to the future, you can lend your knowledge to create understanding.