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.

A landlocked country found in the Central Europe region with Hungarian as their official language. The country’s mathematics and science approach are outstanding. It homes the world’s first technology institute. It is here that the first steam engine in Europe was built back in 1722.