Econometrics Homework Help - Assignment Help
Econometrics is considered to be the most difficult branch of economics but mywordsolution.com is there to help you in relieving all your worries in this field of study. mywordsolution.com plays an indispensable role in providing all the required knowledge and understanding of the same in various different ways. This course is introduced for undergraduate students and paves way to more advanced undergraduate courses in econometrics. This course mainly caters for students having mathematical and statistical abilities.
To find a solution to the problems in this course let us first discover its importance and the difficulties associated with it and related subjects.
Importance of Econometrics
Econometrics is the study of economic relationships to observe and forecast decision making in a wide variety of fields. It is an integration of economics, mathematics and statistics wherein models are constructed under certain conditions. Economics depicts qualitative aspect of a causal relationship whereas econometrics works on its quantitative aspect i.e. it uses data to measures the causal effect. Since econometrics is a representation of real world process, the models use world data collected by various appropriate methods. Rather drawing inferences from non experimental data this course presents evidence based results which are more effective. A complex economic phenomenon is depicted in a simple mathematical form in form of equations including unrealistic assumptions.
With this course you will be able to learn methods in estimating causal relationships so decision making process becomes easier in imperative subjects and results in better working of the economy. It also helps in formulating policies or reformulating an older one. Also the techniques taught in this course will help you to understand other empirical papers of this field.
This course is useful in many fields like engineering science, biological sciences, medical services, geosciences, agricultural sciences etc. Mainly applications using econometrics are: forecasting the expected effects of monetary and fiscal policy on the aggregate performance of the economy, the net impact of immigration in the labor market, factors for firm entry and exit, the influence of minimum-wage laws on employment levels, the relationship between management techniques and worker productivity, the association between insurance coverage and individual health outcomes, the effect of dividend announcements on stock market prices and investor behaviour, predicting revenue increases in response to a marketing campaign, calculating the impact of a firm's tax credits on R&D expenditure, estimating the impact of cap-and-trade policies on pollution levels.
Difference between Econometrics, Mathematics and Statistics
This field of study differs from mathematics and statistics respectively. Mathematics provides tools in finding an unknown variable whereas econometrics uses these tools in finding an unknown parameter to verify a relationship. Also, statistics provides the tools and methods to resolve economic relationships but on the basis of controlled experiments. In this realistic world not only assumptions change but there are various other irrelevant variables accounting for changes in economic relationships and decision making process hereby econometrics takes into account such possibilities and stands out as a major requirement.
Within econometrics there are sub divisions and specialization: Theoretical Econometrics and Applied econometrics. The former talks about the development of tools and methods whereas the latter is the application of these tools to econometric models using economic data. mywordsolution.com will put more emphasis on application based econometrics that is further presented into two parts. In the first part time series data is accounted while in second, cross sectional data is used. Also theoretical content of the course will also be discussed. Main topics include linear regression, data collection methods, hypothesis testing and interpretation.
Difficulties in solving Econometric problems
Lack in basic concepts like probability, matrices and especially statistics are priory the major problems faced by students in solving an econometric problem. Other problems that could arise are specifying the problem and related model correctly, choice of variables, the collection of data, choice of methods and assumptions.
Techniques to solve Econometric problem - Live help in Econometrics Homework - Assignment
mywordsolution.com put greater emphasis on methods like ARMA and VARs to solve econometric problems as these are the most relevant whereas other methods that are useful are logit and probit models, limited dependent variable models, count data models, time series models and various calculus techniques. Overview of basic concepts is given in initiative chapters so as to comfort further calculations.
Also our team of experts use latest software like MS excel, STATA, MATLAB and other statistical tools for data analysis. STATA is most commonly used software widely among students whereas other software uses different programming language and is beneficial for professionals in this field. STATA is easy to use and has all the required tools so mywordsolution.com will use more of STATA in estimation of any economic data so that students are comfortable to operate simultaneously. Also the ways to work on other software too will be presented.
We offer econometrics homework help, econometrics assignment help and assessments writing services. We provide step by step solutions to econometrics problems that will help you to solve similar problems in future without any external help. The service belongs to students studying any corner of globe, does not matter their location or distance. Our econometrics writers are well experienced and they are capable to solve any difficulty level of econometrics problems.
Role of mywordsolution.com and our advantages
mywordsolution.com is one of the best online educational media where students find and gain knowledge in a more interesting way than the traditional method of textbooks. Our content is a compilation of different books and thoughts of top professors. mywordsolution.com use simple language to explain a complex phenomenon just like the term itself. We provide deep insight of the subject using extensive examples, videos, quizzes, and assignments. Our content provides a clear view to analyze the current scenario to make use of the concepts practically. Also tutorials by special professors are available on basis of one-to-one- sessions our website thus highlighting the world wide recognition of mywordsolution.com.
With our highly intellectual online tutors, all your doubts would be taken into consideration 24x7 with immediate replies. Please do not hesitate to contact us with any query/help or comments you may have in econometrics. We will be helpful to you, no matter what is your level of problem in the same.
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