Econometrics is the study of economic phenomena and tests various theories and economic models based on large sets of data. The results are used to make financial decisions and implement economic policies. Econometrics relies on concepts and principles from other areas, like Mathematics, Economic Theory, and Statistics.
There are two main Econometrics branches: Theoretical Econometrics and Applied Econometrics. The former tries to develop new methods and testing systems, while the latter takes the Econometrics theory and applies it to solve problems related to business, unemployment, economic growth, financial predictions, and so on.
An Econometrics degree usually includes subjects like Probability Theory, Micro and Macroeconomics, Linear Algebra, Mathematical Analysis, Finance, Statistics, Operations Research, Regulations and Antitrust, International Economics, Modelling, etc.
Graduates of Econometrics degrees can work in insurance companies, banks, marketing companies, governmental institutions, consultancy firms, and more.Read more