Econometrics and Statistics
All aspects of business require using real-world information to make good business decisions. Econometrics and statistic provides a broad set of quantitative tools that extract information from observable data in order to test our beliefs about the real world - and make our decisions even better.
Chicago Booth has a rich and deep history of asking for proof to support an idea. Econometric and statistical tools provide the means for the quantitative analysis and testing of economic and business models. Here, you will learn to identify what information is and is not important, and you’ll gain the ability to quantify an answer so as to develop a measure of certainty and ultimately be confident in your decisions. What is the default rate on a security? Does the default rate change over time? What is the price impact of an earnings announcement? What will the GDP be next quarter? What variables determine demand for a product? All of these are questions that you will be able to address with econometric and statistical methods.