ECONOMETRICS term papers and essays

An econometrics definition is "the use of mathematics and statistical information to predict future economic trends". Economists use certain variables such as employment, household income, consumer spending, tax rates and interest rates. All of these variables intertwine to create the economy as a whole. Economists study how changes in one variable will affect all of the other variables. For instance, households are a great econometrics forecasting tool since households provide the labor for businesses, the household members get paid a wage, and then they spend that wage at other businesses. Because of this cycle, the income and financial health of households has a lot of bearing on the health of the overall national and world economies. Econometrists have formulas for analyzing these trends. They even have formula software, "Econometrics Toolbox", which gives them formulas and allows them to enter in real life data. Econometrists use software and other techniques to make economic decisions and to forecast future economic developments. The forecasting and decision making involved with econometrics is much like a scientific experiment. First a hypothesis is made. Then, the econometrist will decide which model is appropriate for use in testing the hypothesis. Upon selecting the appropriate model, the econometrist will then identify the fixed variables to be used in the model. The function will be employed and the econometrist may make his prediction.

Most relevant essays on ECONOMETRICS

  • A look at the econometric analysis process in reference to a case study.
    # 36099 | 900 words | 1 source | MLA | 2002 | US
    $19.95 Add to cart More information
  • An analysis of how Gary Becker's economics of crime remains a pivotal model in criminology today.
    # 45929 | 3,136 words | 12 sources | MLA | 2003 | US
    $19.95 Add to cart More information
  • Reviews three related financial econometrics articles.
    # 104576 | 1,335 words | 3 sources | MLA | 2008 | US
    $19.95 Add to cart More information
  • A mathematical analysis of economic problems. Discusses advantages, goals, methods, models, applications and limitations.
    # 12451 | 1,350 words | 5 sources | 1997 | US
    $19.95 Add to cart More information
  • An explanation of least squares regression using a linear regression model.
    # 50926 | 2,404 words | 5 sources | MLA | 2004 | AU
    $19.95 Add to cart More information