Edinburgh, United Kingdom

Mathematical Economics and Econometrics

Master's
Language: EnglishStudies in English
Subject area: mathematics and statistics
Qualification: MSc
Kind of studies: full-time studies, part-time studies
Master of Science (MSc)
University website: www.ed.ac.uk
Econometrics
Econometrics is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference". An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". The first known use of the term "econometrics" (in cognate form) was by Polish economist Paweł Ciompa in 1910. Jan Tinbergen is considered by many to be one of the founding fathers of econometrics. Ragnar Frisch is credited with coining the term in the sense in which it is used today.
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Economics
Economists have never allowed their analysis to be influenced by psychologists of their time, but have always framed for themselves such assumptions about psychical processes as they have thought it desirable to make.
Joseph Schumpeter, History of Economic Analysis, 1945. p. 27
Economics
Men did not make the earth. ... It is the value of the improvements only, and not the earth itself, that is individual property. ... Every proprietor owes to the community a ground rent for the land which he holds.
Thomas Paine, Agrarian Justice (1795–1796).
Econometrics
In mathematical statistics, as well as econometrics, Ted Anderson is a scholar of immense stature. The scope and diversity of his research in statistical theory is almost a phenomenon in itself. Sometimes it seems that wherever one turns the subject, Ted's mark and influence is already firmly established. His books on multivariate analysis and time series rapidly became accepted as major treatises and are now integral parts of the bookshelves of every statistician.
Phillips, Peter CB. "The ET interview: Professor TW Anderson." Econometric Theory, 2.02 (1986): 249-288.
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