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.
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.