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1.2 Roles of Econometrics
Fundamental Axioms of Econometrics
Modern econometrics is essentially built upon the following fundamental axioms:
Any economy can be viewed as stochastic process governed by some probability law. 随机过程
Economic phenomenon, often summarized in form of data, can be reviewed as a realization of this stochastic data generating process(DGP). 经济现象可以数据化，注意不是GDP
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