1/10/2019

WHAT IS ECONOMETRICS?

 econometrics means
“economic measurement.”
WHAT IS ECONOMETRICS?

 Although measurement is an
COURSE 1 ECONOMETRICS important part of econometrics, the
scope of econometrics is much
Prof. Ph.D. Erika Marin broader

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WHAT IS THE METHODOLOGY?

 Econometrics, the result of a certain outlook

on the role of economics, consists of the
 traditional econometric
application of mathematical statistics to methodology proceeds along the
economic data to lend empirical support to the following steps:
models constructed by mathematical
economics and to obtain numerical results  1. Statement of theory or hypothesis.
 2. Specification of the mathematical
 The art of the econometrician consists in model of the theory
finding the set of assumptions that are both
sufficiently specific and sufficiently realistic to  3. Specification of the statistical, or
allow him to take the best possible advantage econometric, model
of the data available to him.
 4. Obtaining the data

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WHAT IS THE METHODOLOGY? GRADING

 traditional
econometric methodology
proceeds along the following steps:  70% exam
 30% seminar

 5. Estimation of the parameters of the  10% test

 20% Homeworks& activity & attendance
econometric model
 6. Hypothesis testing
 7. Forecasting or prediction
 8. Using the model for control or policy
purposes.

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RECAP FROM STATS COURSE

BIBLIOGRAFIE:
SAMPLE POPULATION
Suportul de curs
AVERAGE: n N

x i x i
ANDREI, T. X  i 1
  i 1

n N
Statistică şi econometrie, VARIANCE
Bucureşti, Editura Economica, 2004  x 
n N

 x  
2
i X 2
i
GUJARATI, D. N. s  i 1
2

n 1 2  i 1

N
Basic Econometrics, 3rd ed., New York, Mc
Graw-Hill, 1995 STANDARD
PECICAN, E.
s  s2   2
DEVIATION
Econometrie ... pentru economişti,
Bucureşti, Editura Economică, 2004 s 
COEFFICIENT cv  CV 
X 
OF VARIATION