The Economist defines econometrics as mathematics and sophisticated computing applied to economics.
The Economist goes on to say:
“Econometricians crunch data in search of economic relationships that have statistical significance. Sometimes this is done to test a theory; at other times the computers churn the numbers until they come up with an interesting result. Some economists are fierce critics of theory-free econometrics.”
Atlas topic, subject, and course
The Economist, Economics A-Z, at http://www.economist.com/economics-a-to-z/e, accessed 30 April 2016.
Page created by: Ian Clark, last modified 30 April 2016.