For a beginner, who wants to try his/her hand in econometrics calculations such as Vector Auto Regression functions, Generalised Additive Models, Spline interpolation, ADRL test, etc, which of the following tools/software will you recommend?
1. Eviews
2. Gretl
3. Stata
4. R
5. Matlab
I sugest to use microfit, Eviews and Stata for Vector Auto Regression functions, ADRL test, etc,. This may be useful. You can down load MICROFIT software free of cost.
Have a nice time ahead.
Dear SIngh,
I will suggest for Eviews. Its student version may be good enough. Once you have hands-on experience on Eviews, it will be easier to explore others as well.
For beginners, Eviews is best option especially for time series analysis as there is no need to write commands.
I think Eviews is good for understanding time series data analysis and R is useful as well.
I ALSO SUGGEST STATA AND EVIEWS. THOUGH STATA GOES WITH LOTS OF COMMANDS, A GOOD GRASP OF IT MAKES IT INTERESTING TO USE.
I react to Oluwaseyi Ayorinde Mohammed (the @ did not work), who "strongly suggest EViews because it requires the use of less or no commands to run any time series and financial econometrics models unlike STATA and R."
I think otherwise. If complicated, important computations are done by clicking, they may not be reproducible. Then there is no way to appreciate the quality of the computations. It is better to use commands.
I agree with the argument given by Arie. The command line approach gives you more insights as compared to menu driven Eviews.
I suggest E-views is better to use. I used E-views for panel data in several occasions and I find it easy and better.
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