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The Grand Auditorium at the Institute of Economics bears the name of Ragnar Frisch, a renowned Norwegian economist and econometrician. Frisch was a pioneer in the field of econometrics, which combines economic theory with statistical methods. He is best known for his work on time series analysis and for developing the Frisch-Waugh theorem. The Grand Auditorium is a fitting tribute to Frisch's contributions to economics and econometrics.