Econometrics is a division of economics that uses the linear regression model, along with other mathematical formulas, to provide statistical analysis of many different economic policies and methods. Econometrics is necessary to help determine whether or not intended policies will actually develop as intended in the real world.

An associate degree is an undergraduate degree offered in the US and a few other countries. Associate degrees are a qualification below a bachelor's degree. Many students earn associate degrees during their first few years of higher education. Since they usually require about two years of study, these degrees can act either as job qualifications or as precursors to more advanced degrees.