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.

Requirements for the PhD program often involve the student having already obtained a Master’s degree. Additionally, a thesis or dissertation primarily consisting of original academic research must be submitted. In some countries, this work may even need to be defended in front of a panel.

Part time learning allows one to obtain part-time degrees even if one cannot attend school on a full-time basis. One can learn at his or own pace, gradually accumulating credits which count towards final qualification.