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  • Econometrics Short Note

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    etebark h/michale
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    Econometrics uses mathematical and statistical analysis to find economic relationships and estimate econometric models, with Ragnar Frisch considered the father of the field. It is used for economic forecasting and decision-making, though it is one of the most difficult topics in economics. Basic techniques include single equation regression models or simultaneous equations, with typical steps including selecting hypotheses, defining objectives, making models, estimating variables, analyzing data, and validating results.

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    Econometrics uses mathematical and statistical analysis to find economic relationships and estimate econometric models, with Ragnar Frisch considered the father of the field. It is used for economic forecasting and decision-making, though it is one of the most difficult topics in economics. Basic techniques include single equation regression models or simultaneous equations, with typical steps including selecting hypotheses, defining objectives, making models, estimating variables, analyzing data, and validating results.

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    7 views1 page

    Econometrics Short Note

    Uploaded by

    etebark h/michale
    Econometrics uses mathematical and statistical analysis to find economic relationships and estimate econometric models, with Ragnar Frisch considered the father of the field. It is used for economic forecasting and decision-making, though it is one of the most difficult topics in economics. Basic techniques include single equation regression models or simultaneous equations, with typical steps including selecting hypotheses, defining objectives, making models, estimating variables, analyzing data, and validating results.

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    of 1

    What is econometrics?

    ‘Econometrics’ is a method which uses mathematical a statistical ways of analysis to


    find economic relationship. Read MCQ related with econometrics.
    Why is it used?
    Who is the father of econometrics?
    Ragnar Frisch is the father of econometrics.
    How the Econometric Models are estimated?
    The models are estimated by using some well-known software programmers such as
    Stata, SPSS, SAS and R.
    Full Form SPSS: Statistical Package for the Social Science.
    Full Form SAS: Statistical Analysis System.
    What are the basic techniques?
    1. It can be single equation regression model or,
    2. It may consist a simultaneous equation.
    What is the major importance?
    The major importance is economic forecasting. It helps in decision taking.
    What is the difficulty level?
    It is considered as the most difficult topic of economics.
    What are the basic steps?
    1. Selection of hypothesis.
    2. Define objectives.
    3. Make models.
    4. Estimation of variables.
    5. Data analysis.
    6. Validation.

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