Introduction to Econometrics

Econometrics is really the application of math (statistics most commonly) to economic principles.  The uses vary from testing economic theories to forecasting based on historical trends.  Ideally these models will help the City of Georgetown to both analyze the past and better plan for the future.

Within this site you can find information related to several topics.  Not all information measured is done so specifically for Georgetown.  However, where statistics for Georgetown can be found they are displayed with an attempt to compare them against history, Regional or State level information, and National information.  To view the sources of the differing data, please visit the sources page.  Additionally, a Frequently Asked Questions (FAQ) page is available to explain some of the terms and methods of reporting for data.  Where possible, data that is being compared is done so with the intention of comparing like sampling to prevent a proverbial ‘apples to oranges’ comparison.  As more specific data to Georgetown and the surrounding area becomes available it will be included.

Occasionally there will be a topic posted in the Magic 8-Ball section.  These topics are designed to use basic econometrics to look into possible future outcomes for the City of Georgetown.  They are discussion topics that readers are encouraged to comment on with their own thoughts and questions, and are designed to invoke critical thinking.  The forecasts are not guarantees of any kind, but merely theoretical in nature.  Much like you might see in a stock broker’s brochure, past performance of any economic data is never a guarantee of future performance, even if some models seem very close.

Finally, the raw actual data presented is designed to help the community and investors feel better informed when making decisions regarding their involvement with the City of Georgetown.  If you are a community member, a business, or just an interested party, please leave comments in the comment thread about what you would like to see, what helps you, and what information you could do without.  This will help us better determine what kind of information we should be making available to you.