Book section : Chapter

Faculty and graduates of the University of Oxford have played a significant role in the history of econometrics from an early date. The term econometrics was only formulated by Ragnar Frisch in the 1930s, but in the seventeenth century, William Petty created a discipline that he called Political Arithmetick, a forerunner of quantitative economics that led to the more specialised statistical approach of econometrics. During the first half of the twentieth century, Oxford scholars like Colin Cl...