the application of statistical and mathematical methods in the field of economics to test and quantify economic theories and the solutions to economic problems. Chicago Board of Trade glossary
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The quantitative science of modelling the economy. Econometric models help explain and predict variables of interest. Bloomberg Financial Dictionary
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the branch of economics that uses mathematical and statistical methods to understand how economic systems work. Econometrics looks at important factors, for example interest rates, levels of employment, and government policies, and tests how changes to them could affect the economy in the future
— econometric adjective [only before a noun] :
• They use econometric models to search for the effects of the tax-reform law on the economy in general.
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The use of statistical and mathematical methods to verify and develop economic theories. Also covers the development of plans and implementation of policies based on economic findings.
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econometrics UK US /ɪˌkɒnəˈmetrɪks/ noun [U] ECONOMICS
► the part of economics that uses mathematics and statistics (= the study of the number of times something happens or is present) to understand financial and economic information: »
Bank research is still too often based on complex econometrics, rather than talking to poor people in poor countries.
Financial and business terms. 2012.