Originally published in 1951, this volume reprints the classic work written by one of the leading global econometricians.

Econometrics is structured as followed:

Part 1 explains the relationship of Econometrics to Economics and Statistics.

Part 2 outlines the process of formulating economic hypotheses mathematically and of subjecting them to a statistical test.

Part 3 deals with the various component equations of the economic system - the psychic reactions, technical relations and reactions of business life and describes the process of setting up an economic model of the system as a whole.

Part 4 illustrates the use of econometric methods for policy purposes.