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How did applied econometrics become the backbone of modern economics? The Frisch Medal, awarded biennially by the Econometric Society, recognizes the most important applied paper published in Econometrica. Since 1978, it has honored work that did not simply answer economic questions — but changed how those questions are measured. This series follows that intellectual transformation. Over nearly five decades, the frontier of empirical economics moved: • From estimating structural demand systems • To solving dynamic optimization problems • To identifying causal effects using tax reforms and natural experiments • To modeling heterogeneous agents in equilibrium • To simulating entire economic systems under policy change The evolution is clear. Identification became central. Equilibrium became unavoidable. Computation became indispensable. Policy analysis became structural and counterfactual. This series is not a collection of paper summaries. It is an intellectual map of how economics learned to measure itself — more precisely, more credibly, and more ambitiously. If you want to understand how modern economists think about competition, labor markets, trade, insurance, development, urban economics, uncertainty, and policy design, this journey begins here. Welcome to the evolution of applied econometrics.