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  1. Econometrics - Wikipedia

    • 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 d… See more

    Basic models: linear regression

    A basic tool for econometrics is the multiple linear regression model. In modern econometrics, other … See more

    Theory

    Econometric theory uses statistical theory and mathematical statistics to evaluate and develop econometric methods. Econometricians try to find estimators that have desirable statistical properties including … See more

    Methods

    Applied econometrics uses theoretical econometrics and real-world data for assessing economic theories, developing econometric models, analysing economic history, and forecasting.
    Econometri… See more

    Example

    A simple example of a relationship in econometrics from the field of labour economics is:
    This example assumes that the natural logarithm of a person's wage is a linear function of t… See more

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