Econometrics is the application of mathematics, statistical methods, and more recently, computer science to economic data and is explained as the division of economics that plans to offer pragmatic content to economic relations. In particular, this is the quantitative study of actual economic phenomena stand on the synchronized development of theory and observation, related by appropriate methods of conclusion. An important introductory economics textbook explains Econometrics as permitting economists to sift through mountains of data to extract simple relationships.
Econometrics is the amalgamation of economics, mathematics, and statistics. This mixture assembles supplementary than the addition of its components. Econometrics adds empirical content to economic theory allowing theories to be experienced and used for forecasting and policy assessment and you can improve your grade in your assignment.
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1) Introduction part – in which you will explain your research question, expected findings and data source.
2) Literature review – covering the main works in the evolved field.
3) Data section – along with data covering, it will have sources, properties and visualizing main points like histograms, descriptive statistics shortcomings etc. of essay
4) Analysis section – covering specifications of your statistical model which is suited to the conceptual frameworks and theoretical
5) Diagnostics section – It is to there the tests that you will run, understanding the findings and details on how problems could be solved
6) Conclusion section – Here you will review how you wanted to do, how you did and finally what came out of the analysis.
7) List of Bibliography: citations in text will be according to standards
The summary of essay is expected to have
a) Justify the steps undertaken in the proposed order of research work
b) Which answers are needed for caveats of each question questions providing a theoretical writing
c) a structure of the essay
d) basic formal requirement
e) gathering information on data sources and materials
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