noun
- the application of statistical methods to economic data in order to give empirical content to economic relationships
Usage: academic; economics
Examples
- She studied econometrics to better understand how economic theories work in practice.
- The professor used econometrics to analyze the relationship between unemployment and inflation.
- Econometrics helps economists test their hypotheses using real-world data.
- The research paper employed advanced econometrics to examine trade patterns.
- Students in the economics program must take a course in econometrics.
- The government’s policy decisions were informed by econometric analysis.