Econometrics: Analyzing Economic Data
- Dr. Bruce Moynihan
- Oct 18, 2024
- 4 min read
Updated: Mar 12
October 18 (Doctors In Business Journal) - Econometrics is a branch of economics that applies statistical methods to analyze economic data. It serves as a bridge between theoretical economic models and real-world data, allowing economists to test hypotheses, estimate relationships, and forecast future trends. This article delves into the fundamental concepts of econometrics, its methodologies, applications, and significance in economic research.
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