What does econometrics mean?
Definitions for econometrics
ɪˌkɒn əˈmɛ trɪksecono·met·rics
This dictionary definitions page includes all the possible meanings, example usage and translations of the word econometrics.
Princeton's WordNet
econometricsnoun
the application of mathematics and statistics to the study of economic and financial data
Wiktionary
econometricsnoun
The branch of economics that applies statistical methods to the empirical study of economic theories and relationships.
Wikipedia
Econometrics
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference". An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today.A basic tool for econometrics is the multiple linear regression model. Econometric theory uses statistical theory and mathematical statistics to evaluate and develop econometric methods. Econometricians try to find estimators that have desirable statistical properties including unbiasedness, efficiency, and consistency. Applied econometrics uses theoretical econometrics and real-world data for assessing economic theories, developing econometric models, analysing economic history, and forecasting.
ChatGPT
econometrics
Econometrics is a branch of economics that uses statistical analysis, mathematics, and economic theory to investigate, interpret and predict economic phenomena. It involves collecting and analyzing economic data for the purposes of testing hypotheses, forecasting future trends, and formulating economic policies.
Wikidata
Econometrics
Econometrics is the application of mathematics, statistical methods, and, more recently, computer science, to economic data and is described as the branch of economics that aims to give empirical content to economic relations. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference." An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships." The first known use of the term "econometrics" was by Paweł Ciompa in 1910. Ragnar Frisch is credited with coining the term in the sense that it is used today. Econometrics is the unification of economics, mathematics, and statistics. This unification produces more than the sum of its parts. Econometrics adds empirical content to economic theory allowing theories to be tested and used for forecasting and policy evaluation.
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Numerology
Chaldean Numerology
The numerical value of econometrics in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of econometrics in Pythagorean Numerology is: 4
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Translations for econometrics
From our Multilingual Translation Dictionary
- ekonometrieCzech
- økonometriDanish
- ÖkonometrieGerman
- οικονομετρίαGreek
- econometríaSpanish
- ekonometriaFinnish
- économétrieFrench
- eacnaiméadrachtIrish
- ökonometriaHungarian
- statistica economicaItalian
- 計量経済学Japanese
- សេដ្ឋមាត្រវិទ្យាKhmer
- econometrieDutch
- econometrieNorwegian
- ekonometriaPolish
- econometriaPortuguese
- econometrieRomanian
- экономе́трикаRussian
- ekonometriSwedish
- ekonometriTurkish
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"econometrics." Definitions.net. STANDS4 LLC, 2024. Web. 25 Apr. 2024. <https://www.definitions.net/definition/econometrics>.
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