Future of Sustainable Cooling Systems

ABB has the patent (No. PCT/EP2013/064008) with the topic “Discharge of heat from the electrical switch house on the crane”. The inventors are Bo Edmundsson and Horst Schneider. In the electrical switch house (E-House) there are heat generating as well as sensitive components. In order to guarantee operational safety, the heat generated must be efficiently extracted from the electrical building.

On causality and econometrics — LARS P. SYLL

The point is that a superficial analysis, which only looks at the numbers, without attempting to assess the underlying causal structures, cannot lead to a satisfactory data analysis … We must go out into the real world and look at the structural details of how events occur … The idea that the numbers by themselves […]Continue reading “On causality and econometrics — LARS P. SYLL”

What is econometrics?

Econometrics is part of the economic as a science, which deals with the statistical (empirical) modelling of economic theories (hypotheses) in order to explain, confirm or disprove economic theory empirically.

Merry Christmas and a happy new year 2020

Our Christmas wishes to you Merry Christmas and a happy new year 2020. Jesus is born. Enjoy this festive season with your family, friends, business partners, employees, and even people you might not know. Make friends, invest in your family and friends to promote a cohesive relationship. motivate each other to success regardless of impossiblitiesContinue reading “Merry Christmas and a happy new year 2020”

How to explain the omitted variable bias

In regression analysis, the omitted-variable-bias is the error that is incurred on partial-effects-coefficients of other explanatory variables in a restricted regression model. Two factors play a role in the quantification of the omitted-variable-bias: Partial effects of the omitted-variable on the explained variable. Correlation and Covariance of omitted variable with the rest of the explanatory variablesContinue reading “How to explain the omitted variable bias”

The Technique of Scientific Writing in Economics

Since I started training individual students from several economic faculties in German Universities about the technique of scientific writing, they asked me where they could find some inspiration to get an appropriate topic for their Bachelor and Master thesis. Depending on the regulations of your university, the supervising professor or lecturer may suggest a specificContinue reading “The Technique of Scientific Writing in Economics”