Introduction

Econometrics, literally “economic measurement,” is a branch of economics that attempts to quantify theoretical relationships. This course will have both theoretical and applied econometrics components. There will be a focus on using econometrics software in estimating econometrics models learned during the semester and interpreting the results.

Prerequisite: BT221 Statistics or Equivalent

Course Outcomes

By the end of this course, the students will be able to:

1. Understand the difference between an economic model and an econometric model
2. Define the linear regression model based on the classical linear regression
3. Perform ordinary least squares (OLS) estimation.
4. Use hypothesis testing and confidence interval construction for the population parameters based on the finite sample properties of OLS estimators.
5. Understand extensions to the linear regression model including heteroskedasticity and autocorrelation.
6. Employ time-series regression.
7. Understand the basic panel data methods.
8. Be proficient in the empirical estimation of a model using statistical software.

Textbook

• Wooldridge, Jeffrey M. Introductory Econometrics: A modern approach

Grading Policies