Ragnar Frisch

AAA

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."


INVESTOPEDIA EXPLAINS '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. Business Cycle

    The fluctuations in economic activity that an economy experiences ...
  2. Jan Tinbergen

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

    The application of statistical and mathematical theories to economics ...
  4. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
  5. Microeconomics

    The branch of economics that analyzes the market behavior of ...
  6. Regression

    A statistical measure that attempts to determine the strength ...
Related Articles
  1. Fundamental Analysis

    How Influential Economists Changed Our History

    Find out how these five groundbreaking thinkers laid our financial foundations.
  2. Austrian School of Economics, von Hayek
    Economics

    The Austrian School Of Economics

    Investopedia explains: If you think economists are only concerned with numbers, check out the Austrian School, who are more like economic philosophers.
  3. Adam Smith is considered the founder of modern economics.
    Economics

    Adam Smith: The Father Of Economics

    This free thinker promoted free trade at a time when governments controlled most commercial interests.
  4. Economics

    The Uncertainty Of Economics: Exploring The Dismal Science

    Learning about the study of economics can help you understand why you face contradictions in the market.
  5. Fundamental Analysis

    4 Misconceptions About Free Markets

    These fallacies have hounded free market economists since the days of Adam Smith.
  6. Economics

    Why Can't Economists Agree?

    There are many reasons why economists can be given the same data and come up with entirely different conclusions.
  7. Forex Education

    Free Market Maven: Milton Friedman

    As proponent of free market capitalism, this economist changed the way the world's economies operate.
  8. Economics

    How A Limited Government Affects A Country's Finances

    Countries with limited governments have fewer laws about what individuals and businesses can and can’t do. What's the net result?
  9. Personal Finance

    What is the average salary for an accountant?

    Learn about the average salaries of various accounting positions, and see the difference that an accounting degree makes in attaining higher wages.
  10. Fundamental Analysis

    Lognormal and Normal Distribution

    When and why do you use lognormal distribution or normal distribution for analyzing securities? Lognormal for stocks, normal for portfolio returns.

You May Also Like

Hot Definitions
  1. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  2. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  3. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  4. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  6. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
Trading Center