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Class notes Eco3101
The essay starts by introducing economics and econometrics as interconnected disciplines that shed light on economic functioning, market behavior, and policy impacts. It clarifies that economics deals with the allocation of scarce resources to fulfill unlimited wants, while econometrics employs statistical methods to analyze economic data empirically conclusion, the essay reinforces the symbiotic relationship between economics and econometrics, summarizing their roles in comprehending complex ec...
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The essay starts by introducing economics and econometrics as interconnected disciplines that shed light on economic functioning, market behavior, and policy impacts. It clarifies that economics deals with the allocation of scarce resources to fulfill unlimited wants, while econometrics employs statistical methods to analyze economic data empirically conclusion, the essay reinforces the symbiotic relationship between economics and econometrics, summarizing their roles in comprehending complex ec...