Econometrics - Chapter 1

Econometrics - Chapter 1 - Econometric Questions Can we...

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Hyun Hak Kim Rutgers University Chapter 1 Hyun Hak Kim Rutgers University What is Econometrics? • Econometrics is concerned with the tasks of developing and applying quantitative or statistical methods to the study and elucidation of economic principles. • Econometrics combines economic theory with statistics to analyze and test economic relationships. Hyun Hak Kim Rutgers University Econometric Questions • Does years of education raise income? Hyun Hak Kim Rutgers University Econometric Questions • Does tax reduce production?
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Hyun Hak Kim Rutgers University
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Unformatted text preview: Econometric Questions Can we forecast next years inflation? Hyun Hak Kim Rutgers University Data Type Cross Sectional Data testscr 550.0 600.0 650.0 700.0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Hyun Hak Kim Rutgers University Data Type Time Series Data CPIAUCSL_PC1-4.0-2.0 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 Ja n-6 Jan-63 Jan-66 9-72 Jan-75 78-8 1 Jan-84 87 J an-9 3 Jan-96 99-0 2 Jan-05 08 Hyun Hak Kim Rutgers University Data Type Panel Data...
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Econometrics - Chapter 1 - Econometric Questions Can we...

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