What should we call this new subject?
What are the goals of this subject?People who study "Econometrics" investigate Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships.
Why study "Econometrics"? Econometrics is the use of statistical techniques to understand economic issues and test theories. Without evidence, economic theories are abstract and might have no bearing on reality (even if they are completely rigorous). Econometrics is a set of tools we can use to confront theory with real-world data.
Professionals of "Econometrics" include Ragnar Frisch, Kirill S. Evdokimov, Bo E. Honoré.
Some questions in "Econometrics" involve Topics include randomized experiments, natural experiments, matching methods, instrumental variables, and regression discontinuity.
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