Econometrics is an academic discipline that deals with the application of statistical methods to data in order to estimate economic models. Economists use it to verify or disprove theories, analyze the impacts of certain policies and events on the economy, and formulate effective economic models.

Econometrics is a degree that combines disciplines like statistics, computer science, and economics. It uses statistical theory and mathematical statistics to evaluate and develop econometric models and methods to solve economic questions. Without evidence, economic theories are abstract. Econometrics, therefore, provides a set of tools to confront the theories with real-world data. Data is collected through observations using statistical methods and techniques.

The main goal of Econometrics is to test a hypothesis and to generate economic forecasts. The study curriculum covers topics like microeconomics, macroeconomics, mathematical and statistical methods, data analysis, economic theory, database, and many more.

A degree in Econometrics not only provides students with a thorough understanding of econometrics theory and empirical research but also helps them build their skills in computer literacy, numeracy, information technology, written and oral communication, and presentation. It also develops their power of inquiry, critical analysis, logical thinking, and problem-solving.

Many firms, statistical offices, and international governmental organizations use econometric models and methods on a daily basis. It is vital for making decisions related to economics and business in the present day. Econometrics skills are valuable, and graduates can pursue several successful careers.