Econometrics

Originally published in 1951 this volume reprints the classic work written byone of the leading global econometricians.<strong>Econometrics</strong> is structur... » 

Originally published in 1951 this volume reprints the classic work written byone of the leading global econometricians.Econometrics is structured as followedPart 1 explains the relationship of Econometrics to Economics and Statistics.Part 2 outlines the process of formulating economic hypotheses mathematicallyand of subjecting them to a statistical test.Part 3 deals with the various component equations of the economic system thepsychic reactions technical relations and reactions of business life anddescribes the process of setting up an economic model of the system as a whole.Part 4 llustrates the use of econometric methods for policy purposes. «