Intermediate between mathematics, statistics, and economics, we find a new discipline which, for lack of a better name, may be called econometrics. E… - Ragnar Frisch
" "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.
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About Ragnar Frisch
Ragnar Anton Kittil Frisch (3 March 1895 – 31 January 1973) was a Norwegian economist and the co-winner with Jan Tinbergen of the first Nobel Memorial Prize in Economic Sciences in 1969. He is known for having founded the discipline of econometrics, and in 1933 to have created the widely used term pair macroeconomics/microeconomics.
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Ragnar Anton Kittil Frisch
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In the last decade's intensive study of all sorts of social and economic time series, it has become clear, it seems to me, that the usual time series technique is not quite adequate for the purpose which the social investigator is pursuing... We want to find out on more or less empirical grounds what is actually present in the series at hand, that is to say, what sort of components the series contains.
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