Definition of Econometrics

Econometrics is a branch of the economy, and interested in the measurement and analysis of economic relations, using the following:

Economic theory
Mathematical Economics
Economic Statistics
Mathematical Statistics
Statistical methods (statistical methods)

Designed to analyze and test various economic theories on the one hand, and assistance in policy formulation and decision-making and forecasting the values ​​of economic variables in the future on the other.

The economy can be considered as a standard practice for both economic theory and mathematical economics, through the employment of an economic theory and mathematical relationships to economic phenomena in the ground. Hence the paramount importance of each student or an economic researcher.

Orbiter and for studies and research in the field of economics, published in scientific journals, local and international hardly find a study or research applications free of Econometrics. The generally accepted today that does not know the art of econometrics, it is not an economic sense today.