ECONOMETRIC MODELLING AND ANALYSIS
ICT

Econometric models are constructed from economic data with the aid of the techniques of statistical inference. These models are usually based on economic theories that assume optimizing behavior on the part of economic agents

The objective of econometrics is to convert qualitative statements (such as “the relationship between two or more variables is positive”) into quantitative statements (such as “consumption expenditure increases by 95 cents for every one dollar increase in disposable income”).

Open to all who are interested.

ECONOMETRIC ANALYSIS STEPS:

STEP 1: ECONOMETRIC MODEL SPECIFICATION

STEP 2: ESTIMATION

STEP 3: DIAGNOSTIC TESTING

STEP 4: PREDICTION /FORECASTING

Specification of an econometric model requires knowledge of economic theory or invoking common sense.

Time: 9.00am - 4.00pm