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Introduction to Econometrics
ECONOMETRICS
CLASS CODE: ECON 421 CREDITS:  3
DIVISION: BUSINESS & COMMUNICATION
DEPARTMENT: ECONOMICS
GENERAL EDUCATION: This course does not fulfill a General Education requirement.

DESCRIPTION: This course emphasizes the application empirical methods commonly used to analyze economic phenomena. Methods of empirical analysis are used to test the validity of hypothesized economic relationships and to forecast economic trends. A mixture of theory and applied computer work with respect to estimation, hypothesis testing, model construction and development, and simulation of econometric models. Other related topics include forecasting, computer applications, and the use of econometrics in business and government.
TAUGHT: Winter 2005, Fall 2005, Summer 2006
CONTENT AND TOPICS:

  • Statistical inference

  • Hypothesis testing

  • Simple linear regression

  • Multiple regression techniques

  • Heteroskedasticity

  • Autocorrelation

  • Selection bias

  • Model misspecification

  • Simultaneous equation models

GOALS AND OBJECTIVES:

  1. Obtain a definition of the field of
    Econometrics.

  2. Gain an understanding of the methods commonly used in Econometrics.

  3. Develop testable economic hypotheses.

  4. Develop a working knowledge of vocabulary
    commonly associated with Econometrics.

  5. Experience and experiment with
    distribution theory.

  6. Become proficient in the use of OLS
    regression techniques.

  7. Use common tests for heteroskedasticity, autocorrelation and model misspecification.

  8. Test hypotheses related to economic information.

  9. Establish corrections for commonly experienced data problems.

  10. Collect data and perform a regression analysis.

  11. Present an analysis of data representing what has been collected and analyzed.

REQUIREMENTS: Exams, homework, and class project.
PREREQUISITES: Economics 111, 112, 380, Math 221
OTHER:
EFFECTIVE DATE: January 2004