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Explain about econometric models

Explain about econometric models.

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Econometric Models:

Econometrics holds Economics and mathematics. This is the science of economic measurement. Econometrics describes past economic activity through deriving mathematical equations which will express the most probable inter-relationship among assets of economic variable. Through combining the relevant variable the econometricians proceed for predicting the future course of one or more of these variables upon the basis of established relations.

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