Econometric software for
Dr. Dixon's class
Software for ECON 309
You will choose whether you want to do this course in R or in Stata. Each has advantages and disadvantages which I outline below.Programming in R
Advantages
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Free:
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R is the premier free software for statistical and econometric applications as well as high-quality graphing.
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Advanced career path:
-
If you are planning to do graduate studies in economics or a related field, chances are you'll encounter R again. Knowledge of R will be an asset for most careers that require a graduate degree.
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Easy to document:
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R is a procedural language (a step-by-step computer program). That means that you, or someone else who understands R, just has to read the file (usually 10 to 20 lines) to see exactly what it's doing.
Disadvantages
-
It's a computer language:
-
Compared to all the other ways to do linear regression, it's not bad. But it is still a programming language.
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Not generally available on UNM computers:
-
I had to make a special request to get R on our lab computers. You can download and install R on your own computer(s). But it's not available on all UNM computers (although it is available on some). It is possible, however, to set up a USB drive to run R on any computer. I will put that information on our Learn page if it's something you want to try.
Download
Download R.
Programming in Stata
Advantages
-
Advanced studies:
-
Economics graduate courses at UNM (and elsewhere) use Stata.
-
Advanced career path:
-
Stata is the semi-official econometrics tool of the economics profession.
-
Easy to document:
-
Stata is a procedural language (a step-by-step computer program). That means that you, or someone else who understands Stata, just has to read the file (usually 20 to 50 lines) to see exactly what it's doing.
Disadvantages
-
Expensive:
-
Stata is expensive if you have to buy it for your own computer (starting at $765 per year for non-students). There is a six-month student edition available for $48 (see https://www.stata.com/order/new/edu/profplus/student-pricing/).
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Complicated:
-
Stata was developed in the early days of computers, and it has a very old-school feel. It's hard to remember commands, hard to guess them, and the documentation, though there's plenty of it, is hard to use.
-
Not generally available on UNM computers:
-
Stata is available on all the computers in the Econ pod.
Advantages
- Free:
- R is the premier free software for statistical and econometric applications as well as high-quality graphing.
- Advanced career path:
- If you are planning to do graduate studies in economics or a related field, chances are you'll encounter R again. Knowledge of R will be an asset for most careers that require a graduate degree.
- Easy to document:
- R is a procedural language (a step-by-step computer program). That means that you, or someone else who understands R, just has to read the file (usually 10 to 20 lines) to see exactly what it's doing.
Disadvantages
- It's a computer language:
- Compared to all the other ways to do linear regression, it's not bad. But it is still a programming language.
- Not generally available on UNM computers:
- I had to make a special request to get R on our lab computers. You can download and install R on your own computer(s). But it's not available on all UNM computers (although it is available on some). It is possible, however, to set up a USB drive to run R on any computer. I will put that information on our Learn page if it's something you want to try.
Download
Download R.Programming in Stata
Advantages
-
Advanced studies:
-
Economics graduate courses at UNM (and elsewhere) use Stata.
-
Advanced career path:
-
Stata is the semi-official econometrics tool of the economics profession.
-
Easy to document:
-
Stata is a procedural language (a step-by-step computer program). That means that you, or someone else who understands Stata, just has to read the file (usually 20 to 50 lines) to see exactly what it's doing.
Disadvantages
-
Expensive:
-
Stata is expensive if you have to buy it for your own computer (starting at $765 per year for non-students). There is a six-month student edition available for $48 (see https://www.stata.com/order/new/edu/profplus/student-pricing/).
-
Complicated:
-
Stata was developed in the early days of computers, and it has a very old-school feel. It's hard to remember commands, hard to guess them, and the documentation, though there's plenty of it, is hard to use.
-
Not generally available on UNM computers:
-
Stata is available on all the computers in the Econ pod.
Advantages
- Advanced studies:
- Economics graduate courses at UNM (and elsewhere) use Stata.
- Advanced career path:
- Stata is the semi-official econometrics tool of the economics profession.
- Easy to document:
- Stata is a procedural language (a step-by-step computer program). That means that you, or someone else who understands Stata, just has to read the file (usually 20 to 50 lines) to see exactly what it's doing.
Disadvantages
- Expensive:
- Stata is expensive if you have to buy it for your own computer (starting at $765 per year for non-students). There is a six-month student edition available for $48 (see https://www.stata.com/order/new/edu/profplus/student-pricing/).
- Complicated:
- Stata was developed in the early days of computers, and it has a very old-school feel. It's hard to remember commands, hard to guess them, and the documentation, though there's plenty of it, is hard to use.
- Not generally available on UNM computers:
- Stata is available on all the computers in the Econ pod.