The Econometric Society is an international society of academic economists interested in applying statistical tools in the practice of econometrics. It is an independent organization with no connections to societies of professional mathematicians or statisticians.The Econometric Society sponsors the economics academic journal Econometrica and publishes the journals Theoretical Economics and Quantitative Economics. It also produces a monograph series, organizes scientific meetings and interdisciplinary conferences, as well as workshops all over the world. It has a professional code of conduct. New fellows are elected each year by the current fellows. The Econometric Society is made up of six regions worldwide. This meeting location was chosen because at the time there was also a meeting by the American Economic Association, the American Statistical Association, and the American Association for the Advancement of Science in the same location.
The sixteen-person founding meeting was chaired by Joseph Schumpeter. The Econometric Society was founded as a worldwide organization unlike other societies at the time.
The Econometric Society sponsors several annual awards, in which the honored member delivers a lecture:
- Frisch Medal
- Walras–Bowley Lecture
- Fisher–Schultz Lecture
- Jacob Marschak Lecture