Why study Econometrics? o Rare in economics(and many other areas without labs! ) to have experimental data e Need to use nonexperimental, or observational. data to make inferences C Important to be able to apply economic theory to real world data Economics 20-Prof AndersonEconomics 20 - Prof. Anderson 2 Why study Econometrics? Rare in economics (and many other areas without labs!) to have experimental data Need to use nonexperimental, or observational, data to make inferences Important to be able to apply economic theory to real world data