Econometrics and Economic Theory in the 20th Century - Frisch

In this review of Econometrics and Economic Theory in the 20th Century readers seeking a thoughtful, academic collection will find the strongest reason to buy: it assembles expert perspectives on Ragnar Frisch's lasting influence across econometrics and economic theory. The volume is clearly aimed at scholars and advanced students, and the review highlights how the chapters illuminate topics from utility measurement to macroeconomic planning, providing context and new research that make this monograph useful for research and teaching.

Key Features

• Historical perspective: Several essays trace Ragnar Frisch's role in embedding mathematical techniques into modern economic analysis, offering useful context for contemporary econometric methods.
• Diverse contributions: Chapters from scholars in Europe, the United Kingdom and North America present varied viewpoints that broaden understanding of Frisch's influence across subfields.
• Theoretical coverage: The collection addresses core topics such as utility measurement and production theory, which helps readers connect foundational theory to later developments.
• Methodological insight: Discussions of econometric methods provide readers with reflections on how techniques evolved and how they inform current empirical practice.
• Macroeconomic focus: Sections on macrodynamics and macroeconomic planning give practical value to readers interested in policy and long-run economic modeling.

Who It's For

The book is best suited for graduate students, researchers and faculty in economics who want a scholarly appraisal of Ragnar Frisch's contributions and their consequences for modern econometrics. Readers preparing course modules on the history of economic thought or advanced econometric topics will find many chapters directly usable as seminar readings.

Those looking for an introductory textbook or a hands-on econometrics manual should look elsewhere; this volume assumes familiarity with economic theory and focuses on historical, theoretical and methodological discussion rather than step-by-step applied techniques.

Pros & Cons

Pros

• Comprehensive scholarly essays that illuminate Frisch's influence across multiple subfields of economics.
• Contributors from several regions provide a balanced, international perspective on econometrics and policy history.
• Useful material for graduate seminars and research bibliographies interested in utility measurement, production theory and macrodynamics.

Cons

• The collection is academic in tone and scope, which may deter general readers or undergraduates seeking an accessible introduction.

Specifications

Title	Econometrics and Economic Theory in the 20th Century
Series	Econometric Society Monographs, Series Number 31
Editor / Brand	Steinar Strm
Subject areas	Econometrics, economic theory, utility measurement, production theory, macrodynamics
Audience	Graduate students, researchers, faculty in economics
Focus	Historical contributions of Ragnar Frisch and new research inspired by his work

Our Verdict

For scholars and advanced students who want a rigorous, historically informed examination of Ragnar Frisch's impact, this monograph is a valuable resource that blends theoretical discussion with contemporary research. It represents good value for course reading lists and research libraries, though it is not designed as an introductory or hands-on econometrics textbook.

Frequently Asked Questions

Is this book suitable for a graduate seminar?
Yes. The essays are appropriate for graduate-level discussion and can serve as assigned readings on the history and development of econometric methods.

Does the book include applied econometrics techniques?
No. The focus is on historical, theoretical and methodological analysis rather than step-by-step applied techniques.

Who edited the volume?
The collection is presented under the editorial oversight of Steinar Strm and appears in the Econometric Society Monographs series.