VISUAL ECONOMETRICS: TEACHING AND PRACTICING ECONOMETRICS USING VISTA

The paper introduces and develops the concept of Visual Econometrics - an innovative way of doing econometrics by manipulating visual information on a computer screen without the need to write code or issuing commands. This new approach has been made possible by the development, in recent years, of ViSta, a powerful and easy to use graphically oriented interactive computing environment for regression analysis. The paper argues that the visual approach perfectly complements the algebraic and numerical perspectives of doing econometrics. We illustrate with a few examples relevant to economics and econometrics how ViSta can be useful not only for general data analysis but also for the teaching and practicing of econometrics.