https://ekonometria.org/en/ekonometria/Recent content in Econometrics on Ekonometria.org — Econometrics PortalHugoenSat, 27 Jun 2026 00:00:00 +0000https://ekonometria.org/en/ekonometria/co-to-jest-ekonometria/Sat, 27 Jun 2026 00:00:00 +0000https://ekonometria.org/en/ekonometria/co-to-jest-ekonometria/<p><em>From the Lwów &ldquo;econometry&rdquo; to the era of causal machine learning.</em></p> <p>Before turning to methods, it is worth knowing the concept itself. The history of the word <strong>econometrics</strong> — from the Greek <em>oíkos</em> to the algorithms of artificial intelligence — mirrors the path of the whole discipline: from the management of a household to the rigorous, quantitative measurement of economic processes. This article is a monograph on that concept: its etymology, birth and evolution.</p>https://ekonometria.org/en/ekonometria/mnk-wyprowadzenie/Sat, 27 Jun 2026 00:00:00 +0000https://ekonometria.org/en/ekonometria/mnk-wyprowadzenie/<h2 id="the-problem-and-the-intuition">The problem and the intuition</h2> <p>Consider a cloud of points — say <strong>years of experience</strong> (horizontal axis) and <strong>wage</strong> (vertical axis). The task is to draw a single straight line that “fits best”.</p> <p>What does “best” mean? Every line is inexact somewhere — it passes near the points, not through them. The <strong>error</strong> for a single point is the vertical distance: the amount by which the line departs from the actual value.</p>