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• n  the application of mathematics and statistics to the study of economic and financial data

• Practitioners of econometrics use countless statistics to build complex mathematical models (see cut).
• After graduating in mathematics from Xinjiang University in 1976, Tang became the first student in China since the Cultural Revolution to receive a master's degree in econometrics.
• Forecasting by econometrics became immensely popular with corporate and Government clients, and today is a $100 million-a-year business.

News & Articles

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• LE Releases its 2015 Forecast for New Hotel Openings in its Mid-Year Report
  Lodging Econometrics’ (LE’s) forecast predicts New Hotel Openings of 739 Projects/ 82,587 Rooms for 2015, representing a growth rate for new supply of 1.6%. This is a slow, moderate but steady uptrend improvement over 2011’s cyclical bottom of 346 Projects/ 37,193 Rooms. Despite these increases, the industry is still far away from the peak for New Openings of 1,341 Projects/ 154,258 Rooms set in ...
  Aug. 13, 2013 - Hospitality Net

Quotes

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• Alan Greenspan in BusinessWeek
  As elegant as modern-day econometrics has become, it is not up to the task of delivering policy prescriptions,Greenspan writes. "The world economy has become too complex and interlinked."
• Alun Cairns in ic Wales
  Mr Cairns said, "On several occasions I have quoted the Minister's predictions by Cambridge Econometrics, Business Strategy and Oxford Forecasting that the Welsh economy is deteriorating in comparison with the rest of the UK only for them to be...