Technical and Allocative efficiency are relative concepts, first it is used conventionally, to know if a producer obtain the maximum level of production, according to the amount of inputs used in the process. The second looks for to know if the producer uses the optimal amounts of inputs in the...

Econometrics is the area of statistics concerned in analyzing economic data, for both economic and business applications. This document, introduces the intermediate concepts of this area, for students already familiarized with basic econometric theory. In particular, topics concerning...