Econometrics may be defined generally as the "application of mathematics and statistical methods to the analysis of economic data." Theoretical econometrics considers questions about the statistical properties of estimators in an economic model. Those properties may permit testing an economic hypothesis as to its acceptance or rejection on the basis of statistical inferences from the available data set.
Using real GDP as a measure of actual productivity growth
Circular flow of income and expenditure. Gross domestic product. The value of a currency is constantly changing (usually going down in terms of what you can buy). Given this, how can we compare GDP measured in dollars in one year to another year? This tut
Relationship between the GDP deflator, nominal GDP and real GDP
Simple example of calculating Real GDP from Nominal GDP
Thinking about how different types of expenditures would be accounted for in GDP
Circular flow of income and expenditure. Gross domestic product. You already understand the circular nature of the economy and how GDP is defined from the last tutorial. Now let's think about how economists define the composition of GDP. In particular, we
Understanding the components of the expenditure view of GDP. Consumption, investment, government spending and net exports
Looking at a simple model of an economy
What happens when a good is not finished in a period
Circular flow of income and expenditure. Gross domestic product. Economics can some times get confusing because one person's expenditure is another person's income which can then be used for expenditure and on and on and on. Seems very circular. It is. Th
4:MONTANA ECONOMIC INDICATORS SUMMER 1976-FALL 1981; Continues: Montana economic indicators, ISSN 0146-4302, issued by: Montana. State Employment Service. Research and Analysis