Econometrics // Lecture 1: Introduction
Level: beginnerKeynesAcademy, 2013
First some definitions regarding econometrics, regressions, types of data and independent and dependent variables are given. Then the basic function of a simple regression analysis is explained. Lastly, there is discussion of the meaning of the error term.
cross sectional data data dependent variable econometrics error term function GDP independent variable panel data regression time series variables