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An Introduction to Econometrics

by Mamta Kumari
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Current price ₹996.00
Original price ₹1,134.00
Original price ₹1,134.00
Original price ₹1,134.00
(-12%)
₹996.00
Current price ₹996.00

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Book cover type: Paperback
  • ISBN13: 9781387992805
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Lulu.com
  • Publisher Imprint: Lulu.com
  • Publication Date:
  • Pages: 150
  • Original Price: GBP 8.72
  • Language: English
  • Edition: N/A
  • Item Weight: 209 grams
  • BISAC Subject(s): General

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.

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