ECONOMETRICS

Relevance of quantitative methods to the study of economics.  Functional and graphical representation of economic relationships.  Differential, total and partial differentiation as applied to demand theory and the theory of the firm.  Determinants and matrices for solution of simple economic models.  Probability distribution, sampling theory, hypotheses testing, regression and correlation of economic variables, analysis of variance and co-variance.  Elements of matrix algebra; simple linear regression model. Introduction to simultaneous equations.                                                                                                                                                                                                                                              General Objective:

• To introduce students to the uses of data in testing economic models and forecasting economic variables based upon quantitative economic models.