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econometrics

Line breaks: econo|met¦rics
Pronunciation: /ɪˌkɒnəˈmɛtrɪks
 
/

Definition of econometrics in English:

plural noun

[treated as singular]
The branch of economics concerned with the use of mathematical methods (especially statistics) in describing economic systems.
Example sentences
  • For that matter, mainstream microeconomists or game theorists might be puzzled as well, for our authors aren't really describing economics but rather econometrics.
  • The purpose of the present paper is to investigate the diversity of research strength for Australian universities in the broad discipline areas of economics, econometrics, finance and accounting.
  • Labor economics has become virtually a branch of applied econometrics, with the usual large data sets and headless horsemen running around looking for patterns.

Origin

1930s: from economy, on the pattern of words such as biometrics.

Derivatives

econometric

1
adjective
Example sentences
  • According to the authors, the objective of the book is to report on the current state of scientific advancement in the development of econometric methods in finance.
  • Its aim is to provide an overview of econometric topics and to give an intuitive interpretation of econometric concepts and methods without the usual clutter of technical detail.
  • Business economists can use it for consultation on almost any econometric problem.

econometrician

2
Pronunciation: /-məˈtrɪʃ(ə)n/
noun
Example sentences
  • The choice is not a trivial one - for at least twenty years leading economists and econometricians in business, government and academia have argued both sides of this issue.
  • Economists and econometricians are familiar with the concept of a lag.
  • Except for economic theorists and econometricians, few members of the community appreciated the genius of a man who lived among them for 63 years.

econometrist

3
noun
Example sentences
  • An even greater problem is that many econometrists who have been working on this are challenging the IMF/World Bank methodology of purchasing-power-parity and data calculations.
  • Econometrists develop for example models to explain and predict economic growth or inflation, to predict the price of shares, or to calculate the value of an option on a share.

Definition of econometrics in:

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