Econometrics

Econometrics is a branch of economics that aims to give empirical content to economic theory by applying statistical methods to real world data. This course focuses on the application of linear regression to economic data, its assumptions, and statistical significance tests of parameters and linear restrictions. We also extend the basic linear regression for modeling endogeneity, heteroskedasticity and autocorrelation. Time series and panel data models are considered towards the end of the cours
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Schedule:

January 2022 – January 2022

Teaching time:

Daytime

Location:

Espoo

Topic:

Finance, accounting and economics

Form of learning:

On-campus

Provider:

Aalto University Open University

Level:

Intermediate

Credits:

6 By Aalto University (ECTS)

Fee:

€ 90.00

Course description

The main objective of the course is to obtain a basic understanding of the econometric methodology. The aim is to motivate the students to examine causal relationships between economic phenomena by using a linear regression model. The course focuses on least squares estimation of the model and related statistical inferences. The assumptions of least squares estimation will be critically investigated. We examine the violations of these assumptions and the possible ways to alleviate the assumptions. The emphasis of the course is in the empirical application of the least squares method and its extensions. The economic interpretation of the estimated parameters of regression model and their statistical significance is given a special focus. After the course, students should have the skills to conduct basic empirical econometric analysis.

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