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Economics, econometrics, and data science intersect to analyze and interpret complex data for informed decision-making. Economics provides the theoretical framework to understand market dynamics, policy impacts, and human behavior. Econometrics applies statistical methods to quantify these economic theories, allowing for precise estimation of relationships and causal inference. Data science enhances this by handling large datasets, extracting patterns, and employing machine learning to uncover insights. Together, they enable economists to forecast trends, optimize policies, and make evidence-based decisions. This synergy is crucial in tackling challenges like climate change, healthcare, and financial stability, making data-driven strategies indispensable in modern economic analysis.

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