Mathematical Economics Vs Econometrics – Definitions, Relationships, Differences and Career Opportunities
Econometrics and Mathematical Economics are two confusing terms in economics. It's quite easy to confuse these two terms because they are interrelated and complementary to each other. Besides, there are lot of universities who combine these two courses together, as in "Department of Econometrics and Mathematical Economics". Universities like Tilburg and the London School of Economics and Political Science are very good examples and one reason why I think they do this is to help their students have a wider knowledge and a better opportunity in the labour market. However, the fact that mathematical economics is related to econometrics doesn't mean the two are one. So in this post, we shall be taking an in dept look at these two economic terms so that you can really understand their concepts, relationships, and the differences between them. However, we shall also be looking at the career opportunities of studying the two, as a combine course. What Is Econometrics? In si...