Introduction to quantitative analysis of economic phenomena to explain behavior of observed variables or to forecast their future. Topics include single equation estimation e.g. the Ordinary Least method (OLS) and the Generalized Least Squares method. GLS is an alternative to OLS when there are problems of multicollinearity, autocorrelation,and heteroscedasticity
- Identify the assumptions of the classical linear regression model, diagnose violations of these assumptions such as heteroscedasticity, multicollinearity, autocorrelation, etc. and undertake alternative econometric methodologies to correct these problems
- Develop more advanced models that incorporate different functional forms, dummy independent variables, logit and probit models, etc.
- Develop or specify econometric models using simple or multiple regression equations, estimate, interpret and test statistical parameters or results of the model
Books for this Course
- Basic econometrics Damodar N. Gujarati and Dawn C. Porter 5th Edition (2009).
- Theory of Econometrics by Koutsoyiannis, A. 2nd edition. 2003
- September 2015
- January 2016