Originally published in 1951, this volume reprints the classic work written by one of the leading global ecometricians. Ecometrics is structured as followed: Part 1 explains the relationship of Ecometrics to Ecomics and Statistics. Part 2 outlines the process of formulating ecomic hypotheses mathematically and of subjecting them to a statistical test. Part 3 deals with the various component equations of the ecomic system - the psychic reactions, technical relations and reactions of business life and describes the process of setting up an ecomic model of the system as a whole. Part 4 llustrates the use of ecometric methods for policy purposes.