What is econometrics?(ctd) Econometrics is the field ofeconomics that concerns itself with the application of mathematical statistics and the tools of statistical inference to the empirical measurement of relationships postulated by economic theory.(Hong Y.M.) Econometrics 15-Zhuxi 7Econometrics 15 - Zhuxi 7 What is econometrics? (ctd) Econometrics is the field of economics that concerns itself with the application of mathematical statistics and the tools of statistical inference to the empirical measurement of relationships postulated by economic theory. (Hong Y.M.)