Definition

Relating to the application of statistical and mathematical methods to economic data and problems.

Example

The econometric model helped predict future economic trends based on past data.

Conversation

I just started a course on econometric analysis.

That sounds interesting! What does it cover?

It combines economics with math to analyze data trends.

Nice! I bet it will help you understand the market better.

Synonyms & Antonyms

Root Explanation

Econometric is formed from "economy" (from Greek "oikonomia", meaning household management or administration) and "metric" (from Greek "metron", meaning measure). The word refers to the measurement and analysis of economic data.

Memory Tip

Think of 'economy' as managing resources and 'metric' as measuring — together, they help you remember that econometric involves measuring economic data.

Visually Confused Words