Entry 1 sense Webster, 1913 econometrics /(ē̇*kŏn`ō̇*mĕt"rĭks)/ · e·con·o·met·rics · IPA /ɪˌkɑ.nəˈmɛt.ɹɪks/ 01 n. the application of mathematics and statistics to the study of economic and financial data. 1. the application of mathematics and statistics to the study of economic and financial data.