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Econometric - Meaning, Definition & English Examples

Econometric refers to the application of statistical and mathematical methods to analyze economic data, helping to test theories, forecast trends, and evaluate policies in economics.

econometric

/ˌiːkəˈnɑːmɪtrɪk/ /ˌiːkəˈnɒmɪtrɪk/

Definition:

Relating to the application of statistical methods to economic data for analysis and forecasting.

Synonyms:

statistical-economic, quantitative, analytical, mathematical

Part of Speech:

adjective

Antonyms:

nonquantitative, qualitative

Common Collocations:

econometric models, econometric analysis, econometric techniques, econometric software

Derivatives:

econometrics, econometrically

Usage Tips:

Use "econometric" to describe methods or studies that combine economics and statistics for data-driven insights.

Common Phrases:

econometric approach, econometric modeling, applied econometrics

Etymology:

Derived from "economics" + "metric," originating in the early 20th century to describe quantitative economic analysis.

Examples:

  • 1. The econometric study predicted future market trends accurately.
  • 2. She specializes in econometric research at the university.
  • 3. Econometric models help policymakers evaluate fiscal strategies.
  • 4. His thesis included advanced econometric techniques for data interpretation.

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