The course is intended for those who need to understand the underlying econometric theories and methods in order to progress to more advanced econometric courses on the master programmes in Agricultural Economics or Environmental and Natural Resource Economics.
The course consists of a limited number of lectures, a larger number teacher-made but self-organized exercises and a lot of independent work and self-study. Hence, the learning outcome is very much dependent on students’ ability to work independently (alone or in the groups which are defined by the teachers at the first day of the course) with the course material.
The course focuses on data analysis by using the linear
regression model. Emphasis will be put on the theoretical
background for using the linear regression model, understanding the
nature of the data used as well as intuitive understanding of
regression analysis. Focus is in particular based on
interpretation of the parameters of the regression model and
what to do when the assumptions behind the model is not fulfilled.
The course is applied and focus is on applying the regression models to concrete economic problems.
The purpose of this course is to give students an insight into
how to apply statistical methods and models to a relevant topic in
economics working with economic data.
After completing the course the student should be able to:
- explain the basic econometrics concepts in relation to the linear regression model
- Apply data to analyse specific economic problems
- perform estimations and hypothesis test of parameters in linear regression models
- do basic econometric analyses
- interpret the results from basic econometric analyses and make relevant conclusion based upon these
Jeffrey M. Wooldridge. Introductory Econometrics: A Modern Approach, South-Western
- Some exercises are discussed with a teacher in class, other exercises are only discussed in groups determined by the teachers
- It is possible to ask questions directly to teachers every day, and thereby get feedback on own understanding of details in the material.
- 7,5 ECTS
- Type of assessment
- Written examination, 36 timerThe exam is a take home exam where the student work with a concrete economic problem.
- All aids allowed
- Marking scale
- passed/not passed
- Censorship form
- No external censorship
One internal examiner
The reexamination will be oral. 20 - 30 minutes. No preparation.
Criteria for exam assesment
To pass the course the student should be able to: Explain the basic econometrics concepts in relation to the linear regression model, apply data to analyse specific economic problems, perform estimations and hypothesis test of parameters in linear regression models and finally to interpret the results from basic econometric analyses and make relevant conclusion based upon these
- Theory exercises