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AN INTRODUCTION TO ECONOMETRICS

ByMamta Kumari

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Econometrics is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations. Econometrics is an amalgam of Economic theory, mathematical economics, economic statistics and mathematical statistics. Economic theory makes statements or hypotheses that are mostly qualitative in nature, while econometrics given empirical content to most economic theory. for example, microeconomic theory states that, other things remaining the same, a reduction in the price of a commodity is expected to increase the quantity demanded of that commodity. Thus economic theory postulates a negative or inverse relationship between the price and quantity demanded of a commodity.

Details

Publication Date
Sep 28, 2018
Language
English
ISBN
9781387992805
Category
Education & Language
Copyright
All Rights Reserved - Standard Copyright License
Contributors
By (author): Mamta Kumari

Specifications

Pages
150
Binding
Perfect Bound
Interior Color
Black & White
Dimensions
US Trade (6 x 9 in / 152 x 229 mm)

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