Trygve Haavelmo

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Across
  1. 3. The process of using observed economic data to obtain numerical values for unknown relationships or parameters.
  2. 5. The Nobel-winning Norwegian economist whose work established probability as an important foundation of econometrics.
  3. 7. A mathematical statement that represents a relationship between economic variables.
  4. 8. The field that combines economic theory, mathematics and statistical methods to study real-world economic relationships.
  5. 9. A simplified representation of an economic situation or relationship used for analysis and prediction.
Down
  1. 1. A measurable characteristic, such as income, price, consumption or employment, that can take different values.
  2. 2. The branch of mathematics that deals with uncertainty and chance, which Haavelmo emphasized as a foundation of econometrics.
  3. 4. A statistical concept describing the relationship or association between two variables.
  4. 6. Economic models in which several equations influence and determine one another are called ______ structures.