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Econometrics is the study of quantitative application and the use of data to develop theories for statistical and mathematical models and to test the economics hypothesis along with forecasting the future trends of historical data. Econometrics is used to develop the relationship between economic variables such as demand or price.<br><br>Visit our website https://www.sampleassignment.com/econometrics-assignment-help.html
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INTRODUCTION TO Econometrics www.sampleassignment.com
It is an application of mathematical statistics to economic data to lend empirical support of the economic mathematical tools. • Used to obtain numerical results. • Used as a quantitative analysis based on the concurrent development of theory and observation. Econometrics
Methodology of Econometrics • Specify a mathematical equation to describe the relationship between • economic variables. • Design is based on statistical theory to obtain a representative result. • Estimate the parameters by developing the methods. • Economic forecast implications based on estimated parameters.
Confirms the validity of economic theories. • Supply the numerical estimates used for sound policies. • Forecast the estimating values with a certain degree of probability. • Forecasting variables. • Policy analysis. • Verifying economic theory. Objectives of Econometrics
Theoretical econometrics: Concerned with the development of appropriate methods. Depends on the mathematical statistics, single equation and techniques. • Applied econometrics: Describe the practical value of economic research. Fields of econometrics include consumption functions, demand and supply and fraction. Obtained numerical results. Types of Econometrics
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