Lecture1 - What is Econometrics? Causal E/ects and...

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Unformatted text preview: What is Econometrics? Causal E/ects and Experiments Data 1. Economic Questions and Data Econ 120B, SSII 2009 Aren Megerdichian Department of Economics University of California, San Diego August 2009 What is Econometrics? Causal E/ects and Experiments Data WHAT IS ECONOMETRICS? What is Econometrics? Causal E/ects and Experiments Data Econometrics & Econometrics bridges the gap between abstract economic theory and real-world data. & For example, micro theory suggests that there is a negative relationship between price and quantity demanded. & We can use econometrics on actual price & quantity data to determine if the relationship is in fact negative. & It is both an art and a science. & Science part is the mathematics. & Art part is creativity and judgement in applying the math appropriately. & Basically, the goal of econometrics is to turn data into useful information. What is Econometrics? Causal E/ects and Experiments Data Econometrics - Cont&d & You can think of econometrics as being composed of What is Econometrics? Causal E/ects and Experiments Data Econometrics - Cont&d & You can think of econometrics as being composed of & Mathematics What is Econometrics? Causal E/ects and Experiments Data Econometrics - Cont&d & You can think of econometrics as being composed of & Mathematics & Statistics What is Econometrics? Causal E/ects and Experiments Data Econometrics - Cont&d & You can think of econometrics as being composed of & Mathematics & Statistics & Economics What is Econometrics? Causal E/ects and Experiments Data Econometrics - Cont&d & You can think of econometrics as being composed of & Mathematics & Statistics & Economics & There are basically two types of econometrics. What is Econometrics? Causal E/ects and Experiments Data Econometrics - Cont&d & You can think of econometrics as being composed of & Mathematics & Statistics & Economics & There are basically two types of econometrics. & Econometric Theory - Developing the methodologies What is Econometrics? Causal E/ects and Experiments Data Econometrics - Cont&d & You can think of econometrics as being composed of & Mathematics & Statistics & Economics & There are basically two types of econometrics....
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Lecture1 - What is Econometrics? Causal E/ects and...

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