/sci/ - Science & Math

What do you mean by "valid"?

Econometrics is just statistics with lots of unscientific opinions thrown in.

>>10746999
Can you get a job? All I want is a fucking job where I can do math without being an engie or a businessfag

>>10746993
I'd say so.
I'm working on implementation of Vector Autoregressions and Causality in relation to wave function collapse.
https://www.jstor.org/stable/pdf/2951647.pdf?seq=1

>>10746993
Its not math or science, no. If you want to do math without doing pure maths go into quantitative biology. If too stupid for this just accept you are not cut out for it

>>10747009
You can get a job in an University as a professor and do research on economic and social policies.

Or you go to the industry to work with businessfags in a data analytics position, which is just (mostly) bad econometrics.

There's also trading in Wall Street and stuff but I think the entry barrier is higher.

>>10746993
Not sure what you mean by valid.
Economics is just a form of philosophical analysis that uses mathematical tools.
The old political economy relied more on written language.
So it's conclusions are only as true as it's assumptions and premises.

>>10746993
>econometrics a valid application of a math major?
Yes, Econometrics is a uses a legit mathematical and statistical techniques.

But if your aim is a job away from business stuff where you do math, you better major in something like applied math, financial mathematics, statistics, computer science and operation research.
All these subjects have a deeper relation to Econometrics than your average Economic major. Actually you don't need to know Economy to do Econometrics.

>econometrics a valid application of a math major?
Yes, Econometrics uses a legit mathematical and statistical techniques.

But if your aim is a job away from business stuff where you do math, you better major in something like applied math, financial mathematics, statistics, computer science and operation research.
All these subjects have a deeper relation to Econometrics than your average Economic major. Actually you don't need to know Economy to do Econometrics.

It's 100% valid math. The problem is how descriptive and predictive it ends up being in practice. That is based on economic theory which itself is 50% pseudoscience and the other 50% are subjective political based positions.

It's a gateway to many machine learning and data science jobs. Econometrics is effectively nothing but regression and variations, which effectively is basic (white box) machine learning. So yes, it is very valuable and valid for getting a job and still rigid enough to be less of an art as many data science degrees tend to become.

The economics part is pretty negligible from my experience. Econometrics courses tend to have economic applications as exercises and examples, but exams are mostly about theory. Think of it more as the mathematical foundation of many economic and financial theories.

Also make sure to learn R or Python, otherwise you're fucked regardless if you go into academica or business.

>>10748297
>That is based on economic theory which itself is 50% pseudoscience and the other 50% are subjective political based positions.