Econometrics (ECON 301)

2020 Spring
Faculty of Arts and Social Sciences
Economics(ECON)
3
6.00 / 7.00 ECTS (for students admitted in the 2013-14 Academic Year or following years)
Erdal Aydın erdalaydin@sabanciuniv.edu,
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English
Undergraduate
MATH306 ECON204
Formal lecture,Interactive lecture,Recitation
Interactive,Discussion based learning,Guided discovery,Case Study
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CONTENT

Simple linear regression, least squares, generalized least squares; goodness of fit; prediction; inference, confidence intervals and hypothesis testing; empirical modeling of economic theory; introduction to econometric packages.

OBJECTIVE

Economics as a discipline has to be evaluated by its ability to solve, or at least to have an impact on, important problems of actual economic life. To provide a solution, however, requires the diagnosis and understanding of its nature. Therefore, the primary goal of this course is to prepare students for empirical research. But it also serves those who are willing to go on to advanced studies of econometric theory. The course appeals to economic intuition as well as to rigor as the title of this course is 'Econo' and 'Metrics'. The students will be encouraged to develop a critical sense by mastering on econometric skills necessary to understand and evaluate existing economic models.

LEARNING OUTCOME

Students should be able to
a) apply various econometric techniques on data,
b) identify possible data problems, realize consequences of such problems on estimation results and choose appropriate and relevant techniques,
c) interpret estimation results, assess the importance of certain factors on the variable interest, e.g., what is the impact of education on hourly wage, what are the factors that induce smoking?
d) describe what is meant by ?thinking like an empirical economist?.
e) identify all kinds of links between a set of variables.
f) develop independent study skills, i.e., to pose a problem, identify main causes, use data to provide quantitative answers,
g) use of STATA, an econometric software,
h) use of SUCourse will develop IT skills.

ASSESSMENT METHODS and CRITERIA

  Percentage (%)
Final 35
Midterm 50
Assignment 10
Participation 5

RECOMENDED or REQUIRED READINGS

Textbook

Jeffrey M. Wooldridge
Introductory Econometrics
A Modern Approach, 4th Edition
South-Western, 2009.

Readings

A series of readings that use empirical methods to investigate a particular economic and social problem. The list changes from year to year.