What's the Difference between Econometrics and Statistics?

Instructor: Josh Angrist, MIT

Isn’t econometrics just a fancy word for statistics? Nope. As Master Joshway explains, while there is some overlap between the two fields, they’re motivated by different central questions.

Statisticians use sampling to make statistical inferences about large populations. Econometricians, on the other hand, examine counterfactuals to make causal inferences.

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