i've always had a problem with that (and similar) definitions of
econometrics.
i prefer to think of it as follows...
statisticians often look at data and try to draw conclusions solely from
that data.
econometricians tends to start from an economic hypothesis and then analyze
(statistically) any relevant data to draw evidence to prove/disprove that
hypothesis.
a good example would come from the work i do. 'statistical arbitrage'
strategies that develop from pure statistical analysis on returns tend to be
exercises in data mining and usually either fail, or if they succeed - its
because of other factors (i.e., a 'long-in-disguise' strategy would
certainly look great if tested in a time frame when the market generally has
gone straight up). a strategy which is developed based on an economic
hypothesis (i.e. certain factors are cointegrated because blah,blah,blah)
would seem more reasonable (and often is).
"Dale Glaser" <[EMAIL PROTECTED]> wrote in message
001701c01f54$9aa51d40$1101a8c0@daleglas">news:001701c01f54$9aa51d40$1101a8c0@daleglas...
> Rich..for now citing Vogt, W. P. (1999) Dictionary of Statistics and
> Methodology....very similar to what you state below, econometrics is
defined
> as "(a) the application of statistical methods to economic data, usually
to
> forecast economic trends and decide among policies. (b) the branch of
> economics applying statistical models, often models based on multiple
> regression, to economic problem" (p. 93)..........so interestingly, at
least
> based on the definition, and as opposed to psychometrics, there doesn't
seem
> to be much emphasis on measurement................dale glaser
>
> -----Original Message-----
> From: [EMAIL PROTECTED]
[mailto:[EMAIL PROTECTED]]
> On Behalf Of Rich Ulrich
> Sent: Friday, September 15, 2000 11:52 AM
> To: [EMAIL PROTECTED]
> Subject: Re: What are the differences between Statistics and Econometric?
>
> On Tue, 12 Sep 2000 22:47:46 -0000, "Jennifer Howser"
> <[EMAIL PROTECTED]> wrote:
>
> > What are the differences between Statistics and Econometric?
> >
> >
> > Thanks
>
> "Statistics" could be the general term than includes a number of
> narrower specialties. The specialties are apt to publish in different
> journals, and often use different vocabularies for describing common
> tests -- the basic sorts of data that they refer back to are apt to
> differ.
>
> One broad area is biostatistics. I don't know if "biometrics" is a
> proper subset, or if it overlaps. The tag "-metrics" has been added
> to quite a few terms, as in cliometrics (study of history with an
> emphasis on validating by quantification, such as, the logistics of
> feeding a city or hosting an army -- if it wasn't logically possible,
> then it probably did not happen with that many people).
>
> Most of Economics is concerned with numerical relations; I am not sure
> how "econometrics" fits as its sub-set.
>
> Economics has enormously long time-series (daily, if you want), of
> related variables. By its name, "econometrics" should be especially
> concerned with issues of "measurement." I guess that means that you
> leave out the political side of economics, unless you can measure it.
>
>
> I would be interested in seeing other descriptions or definitions.
> Does an encyclopedia of statistics include definitions?
>
> --
> Rich Ulrich, [EMAIL PROTECTED]
> http://www.pitt.edu/~wpilib/index.html
>
>
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