1.2 WHY STUDY ECONOMETRICS? 03. Economic statistics and econometrics (1) Economic statistics is mainly concerned with collecting, processing, and presenting economic data in the form of charts, diagrams, and tables The data thus collected constitute the raw data for econometric work (2) Econometrics concerned with using the collected data to test economic theories Because the economics data are nonexperimenalin nature, they are likely to contain errors of measurement, the econometrician has to develop specialmethods ofanalysis to deal with such errors of measurement1.2 WHY STUDY ECONOMETRICS? 3. Economic statistics and Econometrics （1）Economic statistics is mainly concerned with collecting, processing, and presenting economic data in the form of charts, diagrams, and tables. The data thus collected constitute the raw data for econometric work. （2）Econometrics concerned with using the collected data to test economic theories. Because the economics data are nonexperimenal in nature, they are likely to contain errors of measurement, the econometrician has to develop special methods of analysis to deal with such errors of measurement