12.1 Basic Principles of Building Macroeconomic Model o Basic principles of building macroeconomic model &s Empirical data test Economic data are objective record for the real economic operation Econometricians test theory models with varieties of mathematical or statistical methods to show to what extent these models are consistent with the real world, and predict quantitatively economic growth in future 友学经济学院12.1 Basic Principles of Building Macroeconomic Model  Basic principles of building macroeconomic model ❖ Empirical data test  Economic data are objective record for the real economic operation  Econometricians test theory models with varieties of mathematical or statistical methods to show to what extent these models are consistent with the real world, and predict quantitatively economic growth in future