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16 February, 14:48

One of the primary advantages of using econometrics over typical results from economic theory is that

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  1. 16 February, 15:08
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    Econometrics is much more mathematical in nature. In economic theory, only the theoretical part of economic aspect is highlighted but in econometrics, the theory is supported with a mathematical explaination. Econometrics provides a much more deep understanding and explaination of a concept than normal economic theory. it potentially provides you with quantitative answers for a policy problem rather than simply suggesting the direction of the response
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