Origin of econometricsecono(my) + metrics
noun(used with a sing. verb)
Origin of econometricsecono(mics) + –metrics.
- e·con′o·met′ric, e·con′o·met′ri·cal
- e·con′o·me·tri′cian , e·con′o·met′rist
econo(my) + -metrics. Although the first known use of the term was by Pawel Ciompa in 1910, Ragnar Frisch is given credit for coining the term in the sense that it is used today.
econometrics - Investment & Finance Definition
Use of computer analysis and modeling techniques to describe in mathematical terms the relationship between key economic forces such as labor, capital, interest rates, and government policies. The model allows variables to be changed so that different situations can be examined. An econometric model could show the relationship of unemployment to housing starts, for example.