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Ragnar Frisch was born in 1895. He was a Norwegian economist who, along with Jan Tinbergen, is considered to be the founder of econometrics, the application of mathematical and statistical methods to economic data. Frisch developed the Frisch-Waugh theorem and the Frisch demand curve, and he also made significant contributions to Theory of production and consumption. He was awarded the Nobel Prize in Economic Sciences in 1969.