Econometrics

What is Econometrics

The field of econometrics involves the utilization of statistical techniques to analyze economic data with the objective of providing empirical evidence to economic relationships. More specifically, it refers to “the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.” In a textbook that provides an introduction to economics, econometrics is described as a tool that enables economists to “sift through mountains of data to extract simple relationships.” In the field of econometrics, Jan Tinbergen is identified as one of the two founding fathers. That other individual, Ragnar Frisch, was also the one who first used the phrase in the manner that it is used today.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Econometrics

Chapter 2: Least squares

Chapter 3: Gauss-Markov theorem

Chapter 4: Regression analysis

Chapter 5: Consistent estimator

Chapter 6: Instrumental variables estimation

Chapter 7: Probit model

Chapter 8: Ordinary least squares

Chapter 9: Simple linear regression

Chapter 10: Seemingly unrelated regressions

Chapter 11: Breusch-Pagan test

Chapter 12: Cochrane-Orcutt estimation

Chapter 13: Generalized least squares

Chapter 14: Statistical model specification

Chapter 15: Heteroskedasticity-consistent standard errors

Chapter 16: Heckman correction

Chapter 17: Polynomial regression

Chapter 18: Error correction model

Chapter 19: Errors-in-variables models

Chapter 20: Linear regression

Chapter 21: Homoscedasticity and heteroscedasticity

(II) Answering the public top questions about econometrics.

(III) Real world examples for the usage of econometrics in many fields.

(IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of econometrics. (eBook only).

Who will benefit

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of econometrics.