Institute of Computer Science and Quantitative Econometrics

A computer is a device that can be instructed to carry out sequences of arithmetic or logical operations automatically via computer programming. Modern computers have the ability to follow generalized sets of operations, called programs. These programs enable computers to perform an extremely wide range of tasks.

Computer science is the study of the theory, experimentation, and engineering that form the basis for the design and use of computers. It is the scientific and practical approach to computation and its applications and the systematic study of the feasibility, structure, expression, and mechanization of the methodical procedures (or algorithms) that underlie the acquisition, representation, processing, storage, communication of, and access to, information. An alternate, more succinct definition of computer science is the study of automating algorithmic processes that scale. A computer scientist specializes in the theory of computation and the design of computational systems. See glossary of computer science.

Econometrics is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference". An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". The first known use of the term "econometrics" (in cognate form) was by Polish economist Paweł Ciompa in 1910. Jan Tinbergen is considered by many to be one of the founding fathers of econometrics. Ragnar Frisch is credited with coining the term in the sense in which it is used today.

Quantitative information or data is based on quantities obtained using a quantifiable measurement process. In contrast, qualitative information records qualities that are descriptive, subjective or difficult to measure.

Science (from Latin scientia, meaning "knowledge") is a systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe.