212ECN Introduction to Econometrics
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Econometrics as per the course 212ECN Introduction to Econometrics deals with the measurement of economic relationships. It is an integration of economics, mathematical economics and statistics with the purpose to provide numerical values to the parameters of economic relationships. The econometric tools are useful in explaining the relationships among variables.
Ragnar Frisch as per the course 212ECN Introduction to Econometrics was the father of 'econometrics' and he is one of the founders of the Econometrics Society, see Christ 1983. Econometrics helps in giving empirical content to economic relationships. The three key ingredients are as follows:
- Economic theory
- Economic data
- Statistical methods
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