Introductory Econometrics Homework Help: An Advanced Approach Made Easy
Economics is a subject which is vast and has many sub branches. Everyone knows about the macroeconomics and microeconomics, which are the two primary branches of economics. However, not very long ago, a new branch or segment of economics emerged: it is known as the econometrics. It’s an advanced approach to economics and it’s being introduced in schools and colleges for a more effective understanding of the subject. Students are consequently made to submit homework on econometrics but not being too familiar with the theories, students come across a lot of questions and uncertainties.
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An introduction to econometrics:
Econometrics is the application of statistical data, arithmetic and computer science to economic facts and figures so as to give an empirical touch to the concerned economic relations. It quantitatively analyzes economic phenomenon and the analysis has its foundation on the consecutive and patterned observation and related development of theories. The conclusions are reached using appropriate means of deriving an inference. Econometrics makes it possible to scan through enormous piles of date and to extract simple relations from them.
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