The Art and Science of Econometrics

Econometrics is an empirical science that uses rigorous mathematical and statistical methods to solve economic problems. This book provides an understanding of statistical properties behind econometric methods, discussing the theoretical methodologies for estimated equations in simple and multiple regression models and the debates about p-values. It also covers regression models using time series data, traditional causal econometric models, and the latest statistical techniques. This methodological study is a science and an art, and serves as a handy reference book for anyone interested in econometrics.

Format: Paperback / softback
Length: 232 pages
Publication date: 29 January 2024
Publisher: Taylor & Francis Ltd

Econometrics has gained widespread application in the empirical study of economics, serving as an empirical science that employs rigorous mathematical and statistical methods to address economic problems. Understanding the methodologies of both econometrics and statistics is a fundamental prerequisite for econometrics. This book's primary objective is to impart an understanding of the statistical properties underlying econometric methods.

In Chapter 1, the book provides an introductory overview, laying the foundation for the subsequent chapters. Chapter 2 delves into a methodological review of econometrics and statistics across different periods since the 1930s. Chapters 3 and 4 explore the theoretical foundations for estimated equations in simple regression and multiple regression models, while also addressing the debates surrounding p-values. This section of the book deepens the reader's understanding of the statistical principles behind econometrics.

Chapters 5 to 9 then focus on discussing regression models utilizing time series data, traditional causal econometric models, and the latest statistical techniques. By emphasizing dynamic structural linear models such as state-space models and the Bayesian approach, the book highlights that this methodological study encompasses both science and art.

This work serves as a valuable reference book for anyone interested in econometrics, particularly students, academic and business researchers engaged in quantitative analysis across various fields.

Weight: 378g
Dimension: 234 x 154 x 16 (mm)
ISBN-13: 9781032227276