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.

Czech Republic has a well-established and research based university education. This has made learning ini Prague one of the respected curriculum's in Europe since it cultivates the spirit of creativity and innovation among students.