ECON 201 Lecture Notes - Lecture 3: Hypothesis, Panel Data, Mixed Economy

• School: Concordia University
• Department: Economics
• Course: ECON 201
• Professor: Ivan Tchinkov

Document Summary

Econ 201 lecture 2 theories, models and data. The examination and observance of economic behaviour involves the use of variables and data: variables: measures that can have different values, data: recorded values of variables. There are 3 main forms of data: time-series data (of different frequency): As the name interprets, this presents sets of values recorded in sequence in different times. *example: the table shows house prices measured by six consecutive years: low-frequeny data: reported manually (example), usually for long-term measurements, high-frequency data: monthly, weekly, daily, , cross-section data: Opposite to time-series, this record values of disparate units at 1 point in time. *example: the right table of canda"s provinces unemployment rate form repeated cross-section (repeated 6 months). House prices by time period prof tchinkov, lec 2, slide 5: longitudinal data: a combination of cross-section but the. Prof tchinkov, lec 2, slide 6 recorded unit remain unchanged over time.