econometrics
/ɪˌkɑ.nəˈmɛt.ɹɪks/
UK: /ɪˌkɒn.əˈmɛt.ɹɪks/
ɪkɑ · NƏMƐT · ɹɪks (3 syllables)
English
Noun
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Definition
The branch of economics that applies statistical methods to the empirical study of economic theories and relationships.
Etymology
An adaptation of the French économétrie. Coined by Norwegian economist Ragnar Frisch in 1926. Compare the earlier German Oekonometrie (now generally spelt Ökonometrie), first used (in a different sense) by Polish economist Paweł Ciompa in 1910.
Example Sentences
- "The credibility revolution in econometrics was an understandable reaction to the identification of causal mechanisms by assertion, often controversial and sometimes incredible."
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