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- Requiere: Statistics · Linear Regression
Applying statistical models to economic data — regression, time series, and causal identification.
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. More precisely, it is “the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.” An introductory economics textbook describes econometrics as allowing economists “to sift through mountains of data to extract simple relationships.” Jan Tinbergen is one of the two founding fathers of econometrics.
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- Requiere: Statistics · Linear Regression