Econometrics is the application of statistical methods and mathematics to economic data. It is a branch of economics that focuses on giving experimental content for finding out economic relations. It also aims at computing relationships between economic variables through statistical techniques.

Courses in Econometrics

There are many courses available in the field of Econometrics. Some of them are Graduate Diploma in Econometrics, B.A in Economics with Econometrics, M.Sc in Econometrics, M.A in Econometrics, etc. A few colleges or universities in India that offer various courses in Econometrics are listed below.

• University of Madras
• Sri Venkateswara University College of Arts
• Gujarat University
• Centre for Population Studies
• Bharathiar University
• University of Jammu
• University of Delhi
• Dibrugarh University
• Delhi School of Economics

Scope of Econometrics

Quantitative economics is a highly specialized field of study which is taught at the post graduation level. The courses related to this field are popular in India but it is done by some of the best brains of the society. The study of quantitative economics became all the more important as a result of the utilization of economics as a subject that can analytically approach the problems and provide efficient solutions. The subject is also known as econometrics as it deals with the study of complex mathematical and statistical models which help in detailed study of concepts of economics.

The growth and development of industries is always dependent on a few factors such as resource utilization, maximization of revenue and similar factors. The subject quantitative economics provide economic models required for the analysis of such factors. The demand for experts in this field are huge across all the sectors some of them being advisory bodies, multinational corporations, manufacturing units, business conglomerates and so on.

The global competition has led to unending race where every enterprise wants to become the market leader. This has led to the enhanced quality and services provided by organizations. The role of economic models in such a scenario becomes all the more important. Econometrics is a highly important subject for research purpose because it always leads to an efficient solution of an economic problem.

A number of esteemed institutes of the country offers courses on this subject. In a developing economy like India, the role of econometrists becomes obligatory. The experts in this field are the ones who bag the best jobs in the market. Not only in India but the employment scope for the quantitative economics experts are huge abroad also.