Econometrics or Stats (1 Viewer)

[quickoats]

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]

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?

 

[quickoats]

What happened to actuarial?

Ceebs wasn’t planning on doing the traditional super/insurance path anyway + I live a long ways away from MQ.

 

[Trebla]

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]

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.