Econometrics meaning
Econometrics means measurement in economics and the ability to quantify and evaluate economic theories and hypothesis is constitutes now more than ever a bear necessity. Econometrics teacher relationship between 2 and more variables but it depends both evidence that this relationship is a real one observe in everyday life and quantification of the relationship between the variables.
Economics includes all those statical and mathematical techniques that are utilised to analyse of economic data.
Aim of econometrics
The main aim of using these tools to to prove or disprove particular economics positions and models. Some models are Deni fitted to financial economics some are not benefited.
Econometrics work
Econometrics perform specification test to ensure that the model used was appropriate and to check the performance and accuracy of the estimation procedure. The specification test and diagnostics suggest that the model used was not appropriate the economic decisions must go back to the former listen stage and revise the economic models repeating the whole procedure from the beginning.
0 Comments