Finicade
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Level 5 · ◆◆◆ · ~12 min

Logs, Elasticities & Functional Form

Logs, Elasticities & Functional Form

"Linear in the parameters, not in the variables: use logs to turn slopes into percentages and elasticities — the language economists actually speak."

linear in parameters vs. linear in variableslog-level: semi-elasticity (% change)level-log formlog-log: constant elasticitywhy and when to use logs
🚀 You're jumping ahead. This builds on Goodness of Fit: R² — but play it now and you'll still earn full XP. If it feels steep, those make a gentler on-ramp.

A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.