Econometrics

Econometrics is the application of statistical and mathematical methods to economic questions. It is used to test economic theories, measure relationships between variables, and make predictions based on data. A simple example is estimating how much a one percent rise in unemployment affects consumer spending. Econometrics gives you the tools to answer that kind of question rigorously, using real data rather than assumptions. The field sits at the intersection of economics, statistics, and mathematics, and an econometrics degree trains you in all three. It is more quantitative than a standard economics degree and more focused on real-world applications than a pure mathematics or statistics degree.