econometrics

noun, plural in form but singular in construction
econo·​met·​rics | \ i-ˌkä-nə-ˈme-triks How to pronounce econometrics (audio) , ē-ˌkä- \

Definition of econometrics

: the application of statistical methods to the study of economic data and problems

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Other Words from econometrics

econometric \ i-​ˌkä-​nə-​ˈme-​trik How to pronounce econometric (audio) , ē-​ˌkä-​ \ adjective
econometrically \ i-​ˌkä-​nə-​ˈme-​tri-​k(ə-​)lē How to pronounce econometrically (audio) , ē-​ˌkä-​ \ adverb
econometrician \ i-​ˌkä-​nə-​mə-​ˈtri-​shən How to pronounce econometrician (audio) , ē-​ˌkä-​ \ noun
econometrist \ i-​ˌkä-​nə-​ˈme-​trist How to pronounce econometrist (audio) , ē-​ˌkä-​ \ noun

Examples of econometrics in a Sentence

Recent Examples on the Web That mind gives authority to new digital technologies, econometrics, law, and other technical languages that attempt to segregate and solve a complex of problems. Quartz Staff, Quartz, "Keller Easterling on what coronavirus tells us about this moment," 30 June 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'econometrics.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of econometrics

1931, in the meaning defined above

History and Etymology for econometrics

blend of economics and -metrics, a re-formation of earlier econometry, after French économétrie

Note: The term econometrics is closely associated with the founding of the Econometric Society in December, 1929, by the Norwegian economist Ragnar Frisch and others, and with the journal Econometrica, which began publication in 1933. The words econometric, econometrics, etc., are all dependent on French économétrie, which was introduced by Ragnar Frisch in the paper "Sur un problème d'économie pure," Norsk Matematisk Forenings skrifter, series I, no. 16 (1926), pp. 1-40. The French word was translated into English as econometry in a review of the paper published in 1927 (Journal of the Royal Statistical Society, vol. 90, no. 1, pp. 146-47). Curiously, the word econometry appeared earlier, apparently in a nonce usage, in A.R. Crathorne, "The Course in Statistics in the Mathematics Department," American Mathematical Monthly, vol. 33, no. 4, April, 1926, p. 186 ("Biologists and anthropologists have long recognized the principle implied here and have invented the words biometry and anthropometry. We might ask the economists to introduce the word econometry, but it would be very difficult to argue them out of their rather well grounded historical claim to some share in the word statistics."). Still earlier, the German word Oekonometrie was apparently coined—though in a much more restricted sense—by the Polish banker and economist Paweł Ciompa (Grundrisse einer Oekonometrie und die auf der Nationalökonomie aufgebaute natürliche Theorie der Buchhaltung, Lemberg [Lwów/L'viv], 1910), though Ragnar Frisch was not aware of Ciompa's word (see Frisch, "Note on the Term 'Econometrics'," Econometrica, vol. 4, issue 1 [January, 1936], p. 95). As a product of word formation, econometrics/econometry (and their French and German predecessors) can be regarded as either a blend (as indicated above) or as a truncation of economy, with the second -o- unetymologically taken as the combining vowel.

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The first known use of econometrics was in 1931

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Cite this Entry

“Econometrics.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/econometrics. Accessed 25 Sep. 2020.

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Britannica.com: Encyclopedia article about econometrics

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