Sometimes reputation of statistics is low ("Do not trust any statistic that you didn't forge yourself", "Lies, damned lies, and statistics", among others). This may be caused by using statistics just to underline the own opinion – regardless whether the methods are appropriate or not. Additionally, different statistical measures are available. Therefore, statistical results seem to be arbitrary. However, in a globalized world statistics becomes more and more important. It is needed to structure and to explain complex issues. Therefore, teaching of the chair is focused on enabling students to question statistical and econometric statements and to use methods in a suitable way.
Econometrics is closely related to the field of statistics. Thus, a lot of econometric methods are also used in statistics. Literally „Econometrics“ means the „measuring of economics“. Whereas statistics is more universal, econometrics is focused on the analysis of economic data. The chair offers introductory as well as advanced courses in statistics and econometrics. The methods are used both in economics as well as in business administration.
The research of the chair is focused is on the analysis of statistical and econometric methods and their application in empirical economics. It is located at the interface of pure methodological research and pure applied research.
Research areas are:
- microeconometric methods
- semiparametric analysis of financial time series
- social assistance and unemployment assistance in Germany
- analysis of intertemporal discounting behavior and underlying motives