1 / 4

What is Econometrics? An Overview of Econometrics

Information in this presentation is provided by the academic research and experts of My Assignment Services. They are a well-known name online form providing the world's largest sample library and academic guidance related to assignments. For More Info Visit - https://www.myassignmentservices.com/econometrics-assignment-help.html

mitchellee95
Download Presentation

What is Econometrics? An Overview of Econometrics

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What is Econometrics?

  2. Econometrics comes under economics and majorly focuses on statistical analysis and mathematical implementations in relation to economics. It includes the provision of hypotheses and the generation of theories in the field of economics and quantitative analysis of economic models. In order to forecast some macroeconomic variables like Gross Domestic Product, interest rates, and inflation rates, econometrics is involved. There are two main branches of econometrics- theoretical econometrics and applied econometrics

  3. Important Steps in an Econometric Model: According to econometrics assignment help experts, the econometrics approach entails modeling and analysing variables in order to establish a relationship between the dependent and independent variables. The model begins with a thorough understanding of the problem. Essentially, the data consists of a theoretical model involving a large number of variables. Furthermore, it deals with data collection, which is arguably the most critical aspect of the study. The information will be gathered from the public domain. The data must then be gathered using an effective estimation process and the equation technique. The fourth step includes the data that is evaluated through the model.

  4. What is Okun’s law? Okun’s law deals with observing the relationship between losses occurring in a nation’s production and unemployment. Arthur Okun who was an economist once studied the relationship between production and unemployment. His research in relation to these was named Okun’s law. In simple words, it argues that the production of a nation would increase if unemployment falls. As per the experts of assignment help in Australia Okun’s law is taken into consideration in economic studies of different countries.GNP, GDP, and Okun coefficient take the foreground in such studies.

More Related