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Monday, 10 December 2012

WORD FOR THE DAY

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Your word for today is: econometrics, n.

econometrics, n.


Pronunciation: Brit. /ᵻˌkɒnəˈmɛtrɪks/,  U.S. /əˌkɑnəˈmɛtrɪks/, /iˌkɑnəˈmɛtrɪks/
 

Etymology: <  econometric adj.: see -ic suffix 2. Compare earlier econometry n.
 

 Econ.
 

  With sing. concord. The branch of statistical theory concerned with the analysis of economic phenomena, in particular the application of statistical methods to economic data.
 

1931 Science 27 Nov. 534/1 Professor Irving Fisher will speak on ‘The Scope of Econometrics’.
 

1954 Times Lit. Suppl. 26 Mar., Econometrics now vies with mathematical philosophy..as an exercise in formal logic.
 

1994  P. Ormerod Death of Econ. (1995) v. 100 Despite intensive effort, econometrics had not succeeded in resolving the various theoretical disputes.
 

2005  S. D. Levitt  & S. J. Dubner Freakonomics p. x, I just don't know very much about the field of economics... I'm not good at math, I don't know a lot of econometrics.

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