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

Examples of econometrics in a Sentence

Recent Examples on the Web The research was commissioned by the Rhode Island Hospitality Association and completed by students enrolled in Salve Regina University business professor Samuel Sacco’s introduction to econometrics class. From Usa Today Network And Wire Reports, USA TODAY, 2 Sep. 2021 The study was commissioned by the Rhode Island Hospitality Association and completed by students enrolled in Salve Regina University business professor Samuel Sacco’s introduction to econometrics class, The Newport Daily News reported Tuesday. BostonGlobe.com, 25 Aug. 2021 He is headed to New York University’s Stern School of Business to study business with concentrations in finance and econometrics. oregonlive, 21 June 2021 On top of this there is a sizable econometrics group supporting MGI projects. Christian Stadler, Forbes, 13 May 2021 But island life for Nadler—who, while getting his Ph.D. in econometrics at Harvard, launched Kensho and published a book of poetry—has little to do with hammocks and coconut cocktails. Steven Bertoni, Forbes, 11 Mar. 2021 Andrews, 34, is a professor in Harvard’s economics department whose work explores new statistical methods to counter potential biases in the field of econometrics. NBC News, 8 Oct. 2020 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, 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.

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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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econometrics

economic

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Last Updated

14 Sep 2021

Cite this Entry

“Econometrics.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/econometrics. Accessed 16 Sep. 2021.

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Britannica.com: Encyclopedia article about econometrics

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