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List of prominent scholars and the work in field of economics

List of prominent scholars and the work in field of economics  Adam Smith - "The Wealth of Nations" (1776) - Laid the foundation for classical economics. John Maynard Keynes - "The General Theory of Employment, Interest, and Money" (1936) - A key figure in the development of modern macroeconomics. Milton Friedman - "A Monetary History of the United States" (1963) - Championed monetarism and free-market principles. Amartya Sen - Work on welfare economics and development, notably "Development as Freedom" (1999). Paul Krugman - Contributions to international trade theory and economic geography. Won the Nobel Prize in 2008. Joseph Stiglitz - Work on information asymmetry, development economics, and global economic issues. Nobel Prize in 2001. Thomas Piketty - "Capital in the Twenty-First Century" (2013) - Analyzed wealth and income inequality over time. Gary Becker - Pioneer in the field of human capital theory and the economic anal

Econometrics Regression Analysis part 1

Econometrics Regression Analysis Part 1   Regression analysis is a statistical method used to model and analyze the relationship between a dependent variable and one or more independent variables. In the context of econometrics, this technique is widely employed to understand and quantify the relationships between economic variables. Here's a more detailed breakdown: Dependent Variable (Y): This is the variable that you want to predict or explain. In econometrics, it often represents an economic outcome or phenomenon, such as GDP, inflation, or unemployment rate. Independent Variable(s) (X): These are the variables that you believe influence or explain changes in the dependent variable. They are also referred to as predictor variables. In economics, independent variables can include factors like interest rates, government spending, or consumer income. Linear Regression Model: The simplest form of regression assumes a linear relationship between the dependent and independent vari

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