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Introduction to Econometrics and Linear Regression

In: A Practical Guide to Static and Dynamic Econometric Modelling

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  • Sarit Maitra

    (Alliance University)

Abstract

This chapter introduces the fundamentals of Econometrics, which combines economic theory, mathematical modeling, and statistical inference to analyze real-world economic data. It provides a structured framework for understanding complex economic phenomena such as consumer behavior, inflation, growth, and market dynamics. Econometrics play a key role in quantifying relationships between variables, enabling predictions and informed policy decisions. Originating with Frisch in 1926 and advanced by the scholars Tinbergen, Klein, and Kuznets, the field emphasizes data analysis and hypothesis formulation based on economic theory. Modeling is central to Econometrics, it clarifies relationships, tests hypotheses, and supports forecasting and strategic planning. This chapter focuses on the procedure of model testing using the Ordinary Least Squares (OLS) regression technique.

Suggested Citation

  • Sarit Maitra, 2025. "Introduction to Econometrics and Linear Regression," Contributions to Economics, in: A Practical Guide to Static and Dynamic Econometric Modelling, chapter 0, pages 1-28, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-86862-7_1
    DOI: 10.1007/978-3-031-86862-7_1
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