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    Econometrics Economics Social Sciences













Econometrics Economics Social Sciences


Econometrics is concerned with developing and applying quantitative statistical and mathematical methods in order to gain insight about the principles of economics. It is the combination of economic theory and statistics and is used to analyze and test economic relationships. Although there is a large amount of overlap between econometrics and statistics, a key difference is that statistics is generally studied in the context of controlled experiments while econometrics is carried out using observational data involving agents that interact with each other.

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