Solved – Difference between econometrics and time series analysis

Question

I'd like to know the difference between time series analysis and econometrics except the fact that the observations using in TSE are in time

Answer 1

Time series analysis refers to any analysis performed on a time series dataset (as opposed to on cross-sections, panels, and pooled cross sections). These analyses can be univariate (one time series) or multivariate (many time series).

Econometrics is the statistical analysis performed by economists, who - given the nature of the discipline - are interested in both causal and predictive applications. Econometrics analysis of time series data is both econometrics and time series analysis.

Time series analysis is very different from cross-sectional analysis and more challenging mainly because the independence assumption commonly made in cross-sections does not hold in time series. Time series analysis is different and in many ways more challenging than panel data or pooled cross-section analysis because we work with only 1 observation at a point in time per time series and thus have to make the most assumptions about the process that may have generated our time series.