Econometrics may be defined as the social science in which the tools of economic theory, mathematics, and statistical inference are applied to the analysis of economic phenomena. A. True B. False
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- What is econometrics? And share one of the primary advantages of using econometrics over typical results from economic theory.Distinguish between macroeconomics and microeconomics citing example (s).Explain the difference(s) between an economic and an econometric model . Write down examples for each model by using the variables that is decided for your project .
- 1. Give 5 characteristics and examples of economics as applied science. 2. Give 5 characteristics and examples of economics as social scienceWhat is the best test of an economic theory? a. Whether it produces implications that are favored by the researcher. b. Its ability to predict real-world events, patterns, and changes. c. Its eloquence. d. The plausibility of its assumptions.Caption: Elements of Mathematical Economics, please put right solutions Subject: Economics
- 1. What is the need for studying econometrics? What procedures onefollows in econometrics?Why do you think economic models are important in econometric? Explain.Provide a real world example that you think is a macroeconomics analysis. Also explain what ma it is a macroeconomics analysis vs. a microeconomics analysis
