Econometrics
"Econometrics is derived from several disciplines, including mathematical
economics, statistics, economic statistics, and economic theory. The goal of
econometrics is twofold: to give economic theory empirical data and to
empirically verify it. It is a study that produces measurements, where
qualitative data is turned into quantitative mathematical forms. Once this is
performed, these statements can then be empirically proven, disproven, measured,
and compared.
Despite common assumption, econometrics is not statistics, differing in one
important aspect: the study of statistics is performed in controlled experiments,
whereas econometrics often has to deal with data. An important tool used in
econometrics is regression analysis, which can further be divided into
time-series analysis, and cross-sectional analysis. Time-series analysis
examines and measures variables over a certain period of time. Cross-sectional
analysis studies the correlation between different variables at a point in time.
Time-series and cross-sectional analysis can be performed simultaneously on the
same sample, which is then called panel analysis."
Interesting Links
Econometrics
Tex
Organisms and Bureaus
Job Market sites
|