Broadly speaking, econometrics aims to give empirical content to economic relations for testing economic theories, forecasting, decision making, and for ex post decision/policy evaluation.
J. Geweke, J. Horowitz, and M.H. Pesaran (2007)
System theory is an interdisciplinary theory about the nature of complex systems in nature, society, and science, and is a framework by which one can investigate and/or describe any group of objects that work together to produce some result.
en.wikipedia.org/wiki/ System_theory
The research group
is part of the Institute of Statistics and Mathematical Methods in Economics.
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