U20451 Econometric Methods

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Short introduction of the course:

The Econometric ways and means make use of arithmetical tools and trade and industry philosophies together to educated guess the trade and industry variables and to predict the intended variables. The econometric model can one or the other be a single-equation getting worse model or may be made up of a system of equations. In most commodities, the single-equation regression model serves the aim.

But, however, within the case where the explanatory economic variables are so interdependent or interrelated to every other that unless one is defined the opposite variable can't be determined; a single-equation regression model doesn't serve the aim. And, therefore in such a situation, the system of equations is employed to forecast the variable.

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