Confessions of an Econometrician/Statistician

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by Bhakti Joshi on Tuesday, December 23, 2014

Section
Fringe, Geekery & Life Hacks

Session type
Lecture

Technical level
Advanced

Objective

This talk will attempt to create linkages between qualitative and quantitative information (on economics, business, etc)

Description

“Can you show me that India’s GDP next year will be 7 per cent? “, asked an executive from a large Indian corporation. “We need to show them India is shining!”, said my ex-boss at a research company in 2004.

The purpose of this talk is to dismiss the myth that quantitative analysis (especially forecasting) of socio-economic concepts is a scientific discovery that will change the course of India’s future. Quantitative analysis can be manipulated using various statistical tools but used as basis to set targets for businesses and the economy. Quantitative analysis today, dismisses it’s own prerequisite qualitative analysis (the more humane approach) and attempts to run the workings of many economies that has caused economic and business failures(Example: Global Financial Crisis of 2008)

This talk will attempt to explain that quantitative analysis is only a tool or means to understand our surroundings which is predominantly abstract in nature. But everything around us keeps changing and hence cannot be explained only by numbers.

Numerical analysis if conducted in isolation tends to restrict intuition. And, the talk will attempt to explain that numbers support imagination and intuition but not the other way round.

Requirements

Powerpoint presentation

Speaker bio

My name is Bhakti Joshi. I am a double post-graduate in Economics with specialisation in econometrics. I have worked for 6 and half years in corporate as a researcher/consultant and 3 and half years as a teacher, teaching subjects like statistics, productivity and quality management, marketing, etc. I am also self-employed involved in simplifying economic and financial jargons through blogs, audios, comic strips, etc. My educational qualifications and experiences across corporate, academia and as an entrepreneur has enabled critical reasoning abilities to be able to speak about the proposed topic.