Econometrics measures how economic variables relate to each other. It uses statistical tools for this task.
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Econometrics measures how economic variables relate to each other. It uses statistical tools for this task.
Three big problems exist in econometrics. Multicollinearity is one of them. Autocorrelation causes issues as well.
Econometrics serves many important purposes. It plays a role in evaluating policies. Economic forecasting is another major use.
Many techniques help in econometrics. Regression analysis tops the list. Hypothesis testing also plays a crucial role.