LOJB10283U Econometrics1

Volume 2018/2019
Content

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.

 

Learning Outcome

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:

Knowledge:
- explain the basic econometrics concepts in relation to the linear regression model

Skills:
- Apply data to analyse specific economic problems
- perform estimations and hypothesis test of parameters in linear regression models

Competences:
- do basic econometric analyses
- interpret the results from basic econometric analyses and make relevant conclusion based upon these

Literature

Jeffrey M. Wooldridge. Introductory Econometrics: A Modern Approach, South-Western

Students should have followed courses in introductory statistics, mathematic and introductory 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.
No credit points if you have passed NIFB14014U Økonometri
  • Category
  • Hours
  • Exam
  • 36
  • Lectures
  • 20
  • Preparation
  • 120
  • Theory exercises
  • 30
  • Total
  • 206
Oral
Individual
Collective
Continuous feedback during the course of the semester
  • 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.
Credit
7,5 ECTS
Type of assessment
Written examination, 36 timer
The exam is a take home exam where the student work with a concrete economic problem.
Aid
All aids allowed
Marking scale
passed/not passed
Censorship form
No external censorship
One internal examiner
Re-exam

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