What’s the difference between Econometrics and Statistics?
On first glance at its table of contents, an Econometrics textbook seems to be similar to a Mathematical Statistics / Statistics with Calculus textbook. What else is the difference between Econometrics and Statistics aside from Econometrics is a form of applied statistics and econometrics uses economic data.
July 19th, 2010 at 11:41 am
That’s what they are. Statistics is to econometrics what tools are to a carpenter. Econometrics applies statistics to economic theory to analyze and test economic relationships