Specify the objectives of econometrics?

1.	Specify the objectives of econometrics?
Answer» Objectives of Econometrics: The general objective of Econometrics is to give empirical content to economic theory. The specific objectives are as follows: 1. It helps to explain the behaviour of a forthcoming period that is forecasting economic phenomena. 2. It helps to prove the old and established relationships among the variables or between the variables 3. It helps to establish new theories and new relationships. 4. It helps to test the hypotheses and estimation of the parameter.

Answer»

Objectives of Econometrics: The general objective of Econometrics is to give empirical content to economic theory.

The specific objectives are as follows:

1. It helps to explain the behaviour of a forthcoming period that is forecasting economic phenomena.

2. It helps to prove the old and established relationships among the variables or between the variables

3. It helps to establish new theories and new relationships.

4. It helps to test the hypotheses and estimation of the parameter.

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