Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships. A basic tool for econometrics is the multiple linear regression model. Econometric theory uses statistical theory and mathematical statistics to evaluate and develop econometric methods. Basic econometrics is a subject which examines multiple regression analysis and its use in economics, management, finance, accounting and marketing. Applied econometrics uses theoretical econometrics and real-world data for assessing economic theories, developing econometric models, analysing economic history and forecasting. One of the fundamental statistical methods used by econometricians is regression analysis. Econometrics is a very important subject which finds applications in several fields. However, the use of statistical techniques in econometrics to explain complex economic problems makes it difficult.

Shivangi Ojha

130 resources

0

0

2

Like