Basic Econometrics ` Basic Econometrics

Basic Econometrics

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Basic Econometrics

• Introduction:
• What is Econometrics?

• Prof. Himayatullah

Introduction What is Econometrics?

• Definition 1: Economic Measurement
• Definition 2: Application of the mathematical statistics to economic data in order to lend empirical support to the economic mathematical models and obtain numerical results (Gerhard Tintner, 1968)

• Prof. Himayatullah

Introduction What is Econometrics?

• Definition 3: The quantitative analysis of actual economic phenomena based on concurrent development of theory and observation, related by appropriate methods of inference
• (P.A.Samuelson, T.C.Koopmans and J.R.N.Stone, 1954)

• Prof. Himayatullah

Introduction What is Econometrics?

• Definition 4: The social science
• which applies economics, mathematics and statistical inference to the analysis of economic phenomena (By Arthur S. Goldberger, 1964)
• Definition 5: The empirical determination of economic laws (By H. Theil, 1971)

• May 2004

• Prof. Himayatullah

Introduction What is Econometrics?

• Definition 6: A conjunction of economic theory and actual measurements, using the theory and technique of statistical inference as a bridge pier (By T.Haavelmo, 1944)
• And the others

• May 2004

• Prof. Himayatullah

• May 2004

• Prof. Himayatullah

• Econometrics

• Economic
• Theory

• Mathematical
• Economics

• Economic
• Statistics

• Mathematic
• Statistics

Introduction Why a separate discipline?

• Economic theory makes statements that are mostly qualitative in nature, while econometrics gives empirical content to most economic theory
• Mathematical economics is to express economic theory in mathematical form without empirical verification of the theory, while econometrics is mainly interested in the later

• May 2004

• Prof. Himayatullah