"Econometrics has been described as the unification of economics, mathematics and statistics. Don't let that put you off, though, because it's also been said that this unification produces more than the sum of its parts. In fact, econometrics is one of the most rapidly evolving fields in economics. It's our job to model the behaviour of economic variables and work out how they inter-relate.
These models allow us to look back and determine whether something - a financial crisis, say - really was an extraordinary event or not. We can also use econometric techniques to assess economic theories and build models that allow us not only to analyse what has happened already but to try to forecast what might happen next."
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