National open university of nigeria introduction to econometrics II eco 356

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Introduction to Econometrics ECO 356 Course Guide and Course Material
Introduction to Econometrics ECO 356 Course Guide and Course Material

4.3.2.0 OBJECTIVE The main objective of this unit is to introduce the application of regression analysis to time series data, starting with static models and then continuing to dynamic models with lagged variables used as descriptive variables.
4.3.3.0 MAIN CONTENTS
4.3.3.1 The Adaptive Expectations Model
As a makeshift solution, some models use an indirect technique known as the adaptive expectations process. This involves a simple learning process in which, in each period, the actual value of the variable is compared with the value that had been expected. If

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