1. The student is acquainted with basic econometric concepts and techniques both on a theoretical and applied level.
2. The student learns how to specify, estimate and evaluate econometric models.
3. The student becomes familiar with commercial econometric packages.
4. The student learns how to analyze and interpret the results of econometric analysis.
5. The student is able to obtain hands-on experience in econometric modelling through his/her involvement with real datasets.
Course Content (Syllabus)
Definition, general purpose and stages of econometric analysis. Basic concepts of mathematics and statistics used in econometrics. The bivariate and multivariate model. The regression line. The ordinary least squares method (OLS). Basic properties. Analysis of covariance, coefficients of determination and elasticity. Statistical (t and F) tests in multivariate models. Forecasting with regression models. Coefficients’ stability tests. Special-form explanatory variables (time trends and dummies). Diagnostic tests in econometric models. Multicollinearity, Heteroskedasticity and Autocorrelation (consequences for the validity of OLS estimates and standard errors, detection tests and methods of dealing with).