Econometric methods application problems in economics management

Next scientific seminar of Department No 8 was held at the Institute of Information Technologies of ANAS. Associate Professor Alovsat Aliyev opened a scientific seminar, said that the use of econometric methods is one of the potential aspects of improving the efficiency of innovation structures and technoparks in modern economic governance processes. Then, an employee of the department Roza Shahverdiyeva presented a report on "The Problems of Using Econometric Package Programs in Economic Research". She first provided information on the methodological basis of the application of economic and mathematical models and methods. She pointed out that one of the main types of economic and mathematical modelling is econometric models. One of the main trends of modern economic analysis is the field of economics, which studies the quantity and quality of economic events and processes by means of mathematical, statistical methods and models.

The speaker noted that methods of econometrics include regression analysis, correlation analysis, classification, clusterization, assessment and others. There are also application levels such as macro level (national economy models), mesolevel (regional economics models), micro level (households). Econometric economics, mathematics, informatics, and statistics are studied in a related way.

She noted that Norvey economist Reynar Frish used econometrics for the first time in the field of economics but L. Klein, T. Hawkalmo, C. Hekman and others were awarded the Nobel Prize for research in this field.

R.Shahverdiyeva spoke about the application of universal, professional, specialized software packages in the construction of econometric models. According to her, some application econometric programs have the ability to work in parallel with different modules, easy import and export of data, the creation of personal macros, and other advantages. The disadvantages include the lack of a convenient interface, high requirements to the computer and operating system characteristics, and so on.

He also noted that the Econometric Views (EViews) is used for the analysis of scientific information from a software package, macroeconomic forecasting, modelling of economic processes, analysis of financial issues, etc.

In addition to this, he presented the development of the econometric model of innovative products in technoparks, the analysis of the results of the econometric models on the computer EVEWS-7 software package and the schemes for the development of the economic-mathematical model in the Technopark.

Finally, the speaker spoke about the results. He pointed out the possibility of using econometric software packages in technology parks, the problems of application of statistical package programs in economic research, the practical realization of the models for the management of innovative products in technology parks, and others.

Discussions were held around the report, questions were answered. Speaking at the seminar, Dr Alovsat Aliyev highlighted the directions and scope of applying econometric methods and packages in department studies and highlighted the relevant recommendations of the institute's leadership in this area.

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