>From the first issue of Econometrica, Ragnar Frisch's definition of
econometrics:
Econometrics is by no means the same as economic statistics. Nor is it
identical with what we call general economic theory, although a considerable
portion of this theory has a definitely quantitative character. Nor should
econometrics be taken as synonomous (sic) with the application of
mathematics to economics. Experience has shown that each of these three
view-points, that of statistics, economic theory, and mathematics, is a
necessary, but not by itself sufficient, condition for a real understanding
of the quantitative relations in modern economic life. It is the
unification of all three that is powerful. And it is this unification that
constitutes econometrics.
Frisch, R. "Editorial." Econometrica 1(January, 1933) p. 2.
=================================================================
Instructions for joining and leaving this list and remarks about
the problem of INAPPROPRIATE MESSAGES are available at
http://jse.stat.ncsu.edu/
=================================================================
