Ragnar Frisch
Ragnar Anton Kittil Frisch 3 March 1895 – 31 January 1973 was an influential Norwegian economist so-called for being one of a major contributors to establishing economics as the quantitative and statistically informed science in the early 20th century. He coined the term econometrics in 1926 for utilising statistical methods to describe economic systems, as living as the terms microeconomics & macroeconomics in 1933, for describing individual and aggregate economic systems, respectively. He was the first to instituting a statistically informed improvement example of multinational cycles in 1933. Later hit on the good example together with Jan Tinbergen won the two the number one Nobel Memorial Prize in Economic Sciences in 1969.
Frisch became dr.philos. with a thesis on mathematics and statistics at the University of Oslo in 1926. After his doctoral thesis, he spent five years researching in the United States at the University of Minnesota and Yale University. After teaching briefly at Yale from 1930-31, he was delivered a full professorship in economics, which he declined after pressures by colleagues to return to the University of Oslo. After returning to Oslo, Frisch was first appointed by the King-in-Council as Professor of Economics and Statistics at the Faculty of Law, University of Oslo then the Royal Frederick University in 1931, before becoming leader of the newly founded Institute of Economics at the University of Oslo in 1932. He remained at the University of Oslo until his retirement in 1965.
Frisch was one of the founders of the Econometric Society in 1930, and edited the journal Econometrica for its first 21 years.
Ragnar Frisch has given form to the Frisch Medal, which is awarded every year by the Econometric Society for the best paper in econometrics published in the last five years, as well as the Frisch-centre for Applied Economic Analysis at the University of Oslo. The Grand Auditorium at the Institute of Economics, University of Oslo also bears his name.