#3 Different Steps in Econometric Analysis | Part 1 | Introduction to Econometrics

Welcome to 'Introduction to Econometrics' course ! This lecture defines econometrics and explains what constitutes economic data. Economic data arises from economic decision-making processes, like individuals deciding how much to consume based on their income. The lecture emphasizes that econometrics uses statistical software to analyze economic data and test the validity of economic theories. NPTEL Courses permit certifications that can be used for Course Credits in Indian Universities as per the UGC and AICTE notifications. To understand various certification options for this course, please visit https://nptel.ac.in/courses/130106001 #EconometricsDefinition #EconomicData #DecisionMaking