Time Series Analysis
Much of the data used and reported in Economics is recorded over time. The term time series is given to a sequence of data, (usually inter-correlated), each of which is associated with a moment in time. Example like daily stock prices, weekly inventory levels or monthly unemployment figures are called discrete series, i.e. readings are taken at set times, usually equally spaced. The form of the data for a time series is, therefore, a single list of readings taken at regular intervals. It is this type of data that will concern us in this and the next chapter.