Econometrics and economics are highly related but there are few differences that separate the two. It’s is hard to say which one is better considering they are both categorized under economics. When you want to study the courses, you should first know these facts:
Econometrics is suitable for students who are very enthusiastic about financial modelling, mathematics, statistics, and demography. This mostly applies to undergraduate students who pursue statistics, actuarial science and mathematics.
Econometrics is more of programming than theoretical economics. In this course students use various statistical tools and advanced excel to model various scenarios. The course is more technical than economics.
Economics is more theoretical than econometrics. It is regarded as easier than econometrics because financial programming is not included during training.
Economics is for policy makers while econometrics is for programmers and professionals who help companies forecast on future performance.
Between the two courses, Economics at masters level is more superior to econometrics but less marketable. If you are interested in securing employment immediately after school econometrics is a better course but if you want to rise through the ranks faster then economics is better because it’s more of policy than technical work.
In terms of salaries economics pays better than econometrics at PhD level.
Econometrics is more challenging than economics when it comes to class work.
