Econometrics is a part of the economics sciences discipline and deals with the analysis of mathematical and statistical data. It helps experts develop effective economic models, leading to problem solving, to test new theories and analyse data. Econometrics is based on quantitative analysis of various economic phenomena.
Bachelor’s and Master’s degrees in econometrics teach students to add empirical content to the theories that allow them to be analysed and evaluated. Statistical theory contributes to development of econometric models and methods that help to solve economic questions. Data is usually collected through observations and is processed using standard statistical models. Regression analysis has an important role in econometrics and it contributes to problem solving as statistical technique. Find plenty of Masters and Bachelors in Econometrics at universities worldwide to find out how to best make use of these techniques and analytical tools.
Econometrics helps solve problems for business sectors, governments, consultancy companies, or non-profit organisations. Graduates of econometrics degrees can work in insurance companies, banks, marketing companies, governmental institutions, consultancy firms, and more.Read more