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« Master's degree
Dortmund, Germany
Dortmund University of Technology

Econometrics

Master's
Table of contents

⇑Econometrics at Dortmund University of Technology

Language: EnglishStudies in English
Subject area: economy and administration
Qualification: Master
Kind of studies: full-time studies
University website: www.tu-dortmund.de

⇑Definitions and quotes

Econometrics
Econometrics is the application of statistical methods 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" (in cognate form) was by Polish economist Paweł Ciompa in 1910. Jan Tinbergen is considered by many to be one of the founding fathers of econometrics. Ragnar Frisch is credited with coining the term in the sense in which it is used today.
Wikipedia
Econometrics
Intermediate between mathematics, statistics, and economics, we find a new discipline which, for lack of a better name, may be called econometrics. Econometrics has as its aim to subject abstract laws of theoretical political economy or "pure" economics to experimental and numerical verification, and thus to turn pure economics, as far as possible, into a science in the strict sense of the word.
Ragnar Frisch (1926) "On a Problem in Pure Eco­nomics: Translated by JS Chipman." Preferences, Utility, and Demand: A Minnesota Symposium. 1926."
Wikiquote
Econometrics
The successes of modern control theory in the design of highly accurate space navigation systems have stimulated its use in the theoretical analyses of economic and biological systems. Similarly, the effectiveness of computer simulation techniques in the macroscopic analyses of physical systems has brought into vogue the use of computer-based econometric models for purposes of forecasting, economic planning, and management.
Lotfi A. Zadeh Outline of a new approach to the analysis of complex systems and decision processes (1973) p. 28
Wikiquote
Econometrics
In mathematical statistics, as well as econometrics, Ted Anderson is a scholar of immense stature. The scope and diversity of his research in statistical theory is almost a phenomenon in itself. Sometimes it seems that wherever one turns the subject, Ted's mark and influence is already firmly established. His books on multivariate analysis and time series rapidly became accepted as major treatises and are now integral parts of the bookshelves of every statistician.
Phillips, Peter CB. "The ET interview: Professor TW Anderson." Econometric Theory, 2.02 (1986): 249-288.
Wikiquote

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