Economics

famzy.loves.you

Is Econometrics really that hard? I met a guy yesterday who studies it and he told me it involved a lot of memorisation of complex math proofs, which is not exactly my forte. Please someone disprove what he said😭

Reply 1

KingPrivateSwiss

Original post by famzy.loves.you

Good pun 😭
I also want the answer to this

Reply 2

Carrotsroom

imo yes, it’s just maths but studied in an economics context (not as hard as pure maths but definitely still complex, some
people describe is as yassified maths!). Econometrics usually has a focus on statistics which gets fairly complicated

Reply 3

BenRyan99

Careers Forum Helper

Original post by famzy.loves.you

Econometrics is simply the application of statistical methods to economic data. But every econometrics course is different, some are very proof based, some give you some of the mathematical intuition but focus more on applying the methods to data using econometric software or packages in R/Python.

Reply 4

username5933938

Original post by famzy.loves.you

Hi. I'm currently studying econometrics as part of my economics degree and I'm really enjoying it. It is just statistics, but we are taught the specific techniques and methodologies that are most important for a social scientist. What that means is that (compared to studying statistics in a maths degree for instance) there will be a lot less rigour and proofs, but a lot more application.

None of the proofs at undergrad level will be complex (although some can become quite tedious), and you only need to memorise formulae if you want to do well in an exam. For the most part you'll be learning about new methods and putting them to use as you conduct research. You'll end up using data to test the models and theorems you learn about in economics such as the Phillips curve and Efficient Markets Hypothesis.

Overall, if you like statistics, you'll like metrics. If you don't like statistics, then you probably won't like it as much. If you want to look into this further, I would recommend looking into simple linear regressions, as this sets the foundation for most other parametric estimation methods used in metrics.

(edited 1 year ago)

Reply 5

MA-HI05

Original post by famzy.loves.you

Core econometrics modules are manageable, the main struggle is the abstract way of thinking you need to adopt which is completely different to anything you do at A level. In 2nd and 3rd year there'll be optional econometrics modules covering theory, time series etc which are probably what your friend is referring to. At my uni only about 20 students out a cohort take these modules purely because they are really that difficult. You'll learn the proofs in those modules but it's more for understanding and developing intuition I've never been asked to recall them in an exam, it's difficult for other reasons.

Reply 6

EssexStudentRep

Official Rep

Original post by famzy.loves.you

Hey there! 🌟

So, here’s the deal: econometrics can be quite straightforward at the beginning. You’ll start with the basics, learning fundamental concepts that are pretty manageable. However, as you progress, it can become more challenging as the material gets more complex. But don’t worry, with the right support and resources, it’s definitely doable!

If you're looking for flexibility and want to steer clear of econometrics, the BA Economics degree at the University of Essex could be a perfect fit for you! This program is packed with a variety of electives, allowing you to tailor your studies to your interests without delving into econometrics. 🎓✨

On the other hand, if you’re up for a bit of a challenge and want to get a taste of econometrics, the BSc Economics degree includes an introductory course that is very manageable. You'll receive plenty of support from our experienced faculty to help you succeed.

The Department of Economics at Essex is top-notch. We’re consistently ranked among the best in the UK, known for our innovative teaching and cutting-edge research. Our professors are leaders in their fields, and our graduates go on to have successful careers in various sectors. 🌟

Here are some highlights:

•

4th in the UK for research power (REF 2021), so you will be learning alongside academics who are breaking new ground in all fields of economics, and pioneering new solutions to global issues.🚀

•

1st in the UK for Value-Added for Economics in the Guardian University Guide 2024 🌍

•

18th in the UK for Economics in the QS World University Rankings by Subject (2023)

So, whether you choose the BA Economics or the BSc Economics, you’ll be part of an outstanding department that’s committed to your success. 🎓📈

Feel free to reach out if you have any more questions or need further information. We’d love to welcome you to the University of Essex!✨

Hope this helps,
Essex Student Rep - Renaldas✌️

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