30284 - EMPIRICAL METHODS FOR ECONOMICS (INTRODUCTION TO ECONOMETRICS)
CLEAM - CLEF - WBB - BIEF - BIEM - BIG
Department of Economics
Course taught in English
Go to class group/s: 31
CLEAM (6 credits - I sem. - OP | SECS-P/05) - CLEF (6 credits - I sem. - OP | SECS-P/05) - WBB (6 credits - I sem. - OP | SECS-P/05) - BIEF (6 credits - I sem. - OBCUR | SECS-P/05) - BIEM (6 credits - I sem. - OP | SECS-P/05) - BIG (6 credits - I sem. - OP | SECS-P/05)
Course Director:
PAMELA GIUSTINELLI
PAMELA GIUSTINELLI
Course Objectives
The course goal is to familiarize students with the theory and use of quantitative methods in economics. The topics of the course are: the linear model and its generalizations; estimation and test theory; econometric specification techniques and model selection problems; instrumental variables. Such techniques are illustrated both theoretically and by means of empirical applications.
Intended Learning Outcomes
Course Content Summary
- The general problem of the approximation of a relation between economic variables.
- Introduction to the regression model in the univariate case.
- The general linear model.
- Strong and weak hypotheses.
- Minimum squares criterion and estimators.
- Statistic properties of estimators.
- Alternative characterizations of estimators (orthogonality, BLUE).
- Interval estimation.
- Tests of linear hypotheses on the parameters of the model.
- How to interpret the results of an application of the linear model.
- Asymptotic results for the linear model.
- Test of nonlinear hypotheses on the parameters of model.
- Heteroschedasticity and generalized minimum squares.
- Correct specification test.
- Nonlinear models.
- Instrumental variables.
- Panel data models.
- Models for qualitative variables.
- Each topic is first introduced theoretically and then illustrated through empirical applications.
Teaching methods
Assessment methods
Detailed Description of Assessment Methods
Written exam. Possibility to take the partial exams, the final grade is the average of the two parts.
Textbooks
- J.M. WOOLDRIDGE, Introductory econometrics: a modern approach, South-Western College Pub., 2013, 5th edition.
Prerequisites
Sound knowledge of the topics studied in the courses in mathematics and statistics.
In particular, BIEF students should have passed Statistics (cod. 30001) in previous exam sessions or in the same session as the Application exam. If not, the Application exam is considered null as taken in breach of the compulsory sequence.
Last change 25/07/2017 10:40