What is Econometrics?

Brief description of econometric modelling: how it works, what questions it can answer.

What is Econometrics?

Peter LoganInitiative Media

Econometrics is...

  • the application of mathematics and statistical methods to the analysis of economic data. (Handbook of Econometrics)

  • a branch of economics that uses mathematical methods and models. Calculus, probability, statistics, linear programming, and game theory, as well as other areas of mathematics, are used to analyze, interpret, and predict various economic factors and systems, such as price and market action, production cost, business trends, and economic policy. (Microsoft...

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