• Want to help us with this year's BoS Trials?
    Let us know before 30 June. See this thread for details
  • Looking for HSC notes and resources?
    Check out our Notes & Resources page

Econometrics or Stats (1 Viewer)

quickoats

Well-Known Member
Joined
Oct 26, 2017
Messages
970
Gender
Undisclosed
HSC
2019
Is there a huge difference? Or is doing stats with econometrics kinda redundant?

I'm enrolled in BEc BAdvMath(Hons) and was planning on doing economics or econometrics with maths and/or stats, but did a quick plan of the singular BEc degree with a double major in economics and econometrics, and am able to finish that in 2 years with my RPL. On the other hand the double will take at least 4 years etc and it's much harder to plan clearly cos some things run only once a year.

Any advice is appreciated :)
 

idkkdi

Well-Known Member
Joined
Aug 2, 2019
Messages
2,511
Gender
Male
HSC
2021
Is there a huge difference? Or is doing stats with econometrics kinda redundant?

I'm enrolled in BEc BAdvMath(Hons) and was planning on doing economics or econometrics with maths and/or stats, but did a quick plan of the singular BEc degree with a double major in economics and econometrics, and am able to finish that in 2 years with my RPL. On the other hand the double will take at least 4 years etc and it's much harder to plan clearly cos some things run only once a year.

Any advice is appreciated :)
What happened to actuarial?
 

Trebla

Administrator
Administrator
Joined
Feb 16, 2005
Messages
8,176
Gender
Male
HSC
2006
Whilst there is overlap, Econometrics is very application focused (mainly in commercial contexts) whereas Statistics leans more on the theory (and applies more broadly beyond commerce).

A more blunt way to put it is that in Econometrics you’ll be plugging numbers into random formulas that are not explained to you, but in Statistics you’ll be deriving these formulas with some application.
 

wrong_turn

the chosen one
Joined
Sep 18, 2004
Messages
3,664
Location
Sydney
Gender
Male
HSC
2005
Uni Grad
2010
Whilst there is overlap, Econometrics is very application focused (mainly in commercial contexts) whereas Statistics leans more on the theory (and applies more broadly beyond commerce).

A more blunt way to put it is that in Econometrics you’ll be plugging numbers into random formulas that are not explained to you, but in Statistics you’ll be deriving these formulas with some application.
Econometrics I agree has much more commercial focused applications. To be honest can't comment on stats in maths.

Unless the courses have changed. I recall econometrics was derived and applied and Finance was the plug and play formulas.

I loosely applied econometrics to designing key performance indicator metrics at a work setting. I have also used regression analysis to derive work item time allocations that drive productivity.
 

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top