Economics
Approved course information last updated: 1 year, 7 months ago
Pre-requisites: ISOM 220 ECON 230 ECON 320 ELU 126
Requisite To: ECON 450 ECON 470
Lab Session:
Introduction to econometrics by merging mathematics, probability, and statistics to answer economic questions using data. The course covers model specification, estimation, and inference, using multiple linear regression and ordinary least squares estimation, while also incorporating nonlinear relationships and discrete variables. Violations of the classical linear model assumptions are examined, including endogeneity, heteroskedasticity, correlated data, non-normality, and nonlinearity in parameters. Emphasis is placed on practical applications of econometric methods to answer questions of cause and effect and forecast macroeconomic variables.
- Clo1. establish the theoretical foundations of key models and estimators.
- Clo2. identify data structures, specify appropriate econometric models, & develop estimation/forecasting strategies.
- Clo3. differentiate critically between spurious correlations and causal relationships.
- Clo4. use statistical software to organize data, estimate model parameters, draw inferential conclusions, and