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• kinds of data
What is Econometrics
• Literally interpreted, econometrics means
“economic measurement.” Although measurement
is an important part of econometrics, the scope of
econometrics is much broader
Table: Firms data for the year ended 31st Dec, 2001
firm id firm name no of shareholders Shareprice Mkt cap Lev age
1 Abbott Lab 1233 450 554850 45 34
2 Abbot 12323 435 5360505 65 54
3 FATIMA 43434 343 14897862 67 34
4 AzgardNine 212 55 11660 45 55
5 GhaniGlass 3434 343 1177862 65 56
6 Treet 322324 454 146335096 34 34
Example of cross sectional data
Time Series Data
• A time series data set consists of observations on an
entity, variable or several variables over time. Examples
of time series data include stock prices, money supply,
consumer price index, gross domestic product, annual
homicide rates, and automobile sales figures.
Year firm id firm name no of shareholders Shareprice Mkt cap Lev age
Year firm id firm name no of shareholders Shareprice Mkt cap Lev age
2015 1 Abbott Lab 1233 450 554850 45 34
2015 2 KRL 12323 435 5360505 65 35
2015 3 ABL 43434 343 14897862 67 36
2015 4 PAKElectron 212 55 11660 45 37
2015 5 Seimens 3434 343 1177862 65 38
2015 6 Dawood 322324 454 1.46E+08 34 39
2016 7 HBL 554850 34 18864900 34 42
2017 8 Azgard9 5360505 54 2.89E+08 35 43
2018 9 Treet 14897862 34 5.07E+08 36 44
2019 10 Fatima 11660 55 641300 37 45
2020 11 FFCL 1177862 56 65960272 38 46
2021 12 FFBL 146335096 34 4.98E+09 39 47
Pooled Cross Sections
Panel or Longitudinal Data
• A panel data (or longitudinal data) set consists
of a time series for each cross-sectional
member in the data set. As an example,
suppose we have wage, education, and
employment history for a set of individuals
followed over a ten-year period. Or we might
collect information, such as investment and
financial data, about the same set of firms
over a five-year time period.
Panel or Longitudinal Data
Panel or Longitudinal Data
• The key feature of panel data that
distinguishes them from a pooled cross
section is that the same cross-sectional units
(individuals, firms, or counties in the
preceding examples) are followed over a given
time period.