Ragnar Frisch

DEFINITION of 'Ragnar Frisch'

A Norwegian economist and joint winner in 1969 of the very first Nobel Prize in Economics, along with Jan Tinbergen, for his research in econometrics. Ragnar Frisch's other areas of research included time series, linear regression analysis, production theory and business cycles. He worked to establish economics as a science, founded the Econometric Society, and coined the terms "econometrics," "microeconomics" and "macroeconomics."


BREAKING DOWN 'Ragnar Frisch'

Frisch was born in 1895 in Norway. He began his career as a gold and silversmithing apprentice in order to work in the family business but became interested in economics through his university studies. He earned his Ph.D. in mathematics from the University of Oslo, where he became a professor and taught for many years. He died in 1973. The Ragnar Frisch Centre for Economic Research at the University of Oslo and the Frisch Medal for outstanding econometrics papers are named in his honor.

RELATED TERMS
  1. Jan Tinbergen

    A Dutch economist who won the Nobel Memorial Prize in Economics ...
  2. Econometrics

    The application of statistical and mathematical theories to economics ...
  3. Trygve Haavelmo

    A Norwegian economist who won the 1989 Nobel Memorial Prize in ...
  4. Lawrence Klein

    An American economist and winner of the 1980 Nobel Memorial Prize ...
  5. Tjalling C. Koopmans

    A Dutch-American economist who won the Nobel Memorial Prize in ...
  6. Jerry A. Hausman

    An economics professor and director of the MIT Telecommunications ...
Related Articles
  1. Economics

    Macroeconomics: Introduction and History

    By Stephen Simpson In general, economics is the study of how agents (people, firms, nations) use scarce resources to satisfy unlimited wants. Macroeconomics is the branch of economics that concerns ...
  2. Personal Finance

    The Basics Of Business Forecasting

    Discover the methods behind financial forecasts and the risks inherent when we seek to predict the future.
  3. Active Trading Fundamentals

    Five Minute Investing: Know Yourself

    As you have probably seen by now, the emotions and predispositions we are all imbued with tend to work against us in the world of aggressive investing. Often to succeed in this business we need ...
  4. Forex Education

    4 Ways To Forecast Currency Changes

    Whether you are a business or a trader, having an exchange rate forecast to guide your decisions helps to minimize risks and maximize returns.
  5. Forex Fundamentals

    3 Ways To Forecast Currency Changes

    Forecasting exchange rates can help minimize risks and maximize returns. Here are three popular methods for forecasting exchange rates.
  6. Professionals

    Get An Academic Finance Career

    Working nine months a year and earning a six-digit salary might seem like the high life, but these jobs are not easy to come by.
  7. Investing Basics

    Warren Buffett: His Life and Education

    Warren Edward Buffett was born on August 30, 1930 in Omaha, Nebraska, to Howard, a stockbroker and later Congressman, and Leila (Stahl) Buffett. As a child, Warren showed an interest in stocks ...
  8. Forex Education

    The Most Famous Forex Traders Of All Time

    The five most famous forex traders share common virtues such as strong self-confidence.
  9. Active Trading

    The Linear Regression Of Time and Price

    This investment strategy can help investors be successful by identifying price trends while eliminating human bias.
  10. Entrepreneurship

    The Greatest Investors: Philip Fisher

    Philip A. Fisher Born: San Francisco, California in 1907; Died 2004 Affiliations: ...
RELATED FAQS
  1. What are some of the more common types of regressions investors can use?

    Learn about the most common types of regressions investors use to model asset prices including linear regressions and multiple ... Read Answer >>
  2. What is the difference between linear regression and multiple regression?

    Learn the difference between linear regression and multiple regression and how multiple regression encompasses not only linear ... Read Answer >>
  3. How can I use a regression to see the correlation between prices and interest rates?

    Learn how to use linear regression to calculate the correlation between stock prices and interest rates by taking the square ... Read Answer >>
  4. Is economics a science?

    Learn how economics fits into the category of social sciences, and discover the arguments critics make against this classification. Read Answer >>
  5. Should investors care more about microeconomics or macroeconomics?

    Learn why investors such as Warren Buffett focus on microeconomics, not macroeconomics, when evaluating individual investment ... Read Answer >>
  6. How can I run linear regressions in MATLAB?

    Learn how to run linear regressions in MATLAB by loading data, specifying dependent and independent variables and using the ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center