Definition from Wiktionary, the free dictionary
- The study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices.
- econometrics, also coined (in current sense) by Frisch
study of the entire economy
- ^ 1933, Frisch, Ragnar, Propagation Problems and Impulse Problems in Dynamic Economics, London: Allen & Unwin: