The lectures in ECN201 cover two- and multiple-variable regression analysis, OLS, hypothesis testing, violations of OLS assumptions, GLS, dummy independent variables, and the use of the econometric program SHAZAM. In addition, there are problem sets, computer exercises, and a term paper.

ECN201 gives an introduction to econometric methods. The focus is on applied and not theoretical econometrics. There are two specific goals. First, the course aims at giving the students practice in reading and understanding empirical works in economics and other social sciences. That includes knowledge of ordinary least squares (OLS) and its assumptions, the consequences of violating these assumptions, and how to detect and correct misspecification in econometric models. Second, the students will do their own econometric analysis, which includes formulating the problem to be investigated, developing an econometric model based on economic theory, obtaining the required data, estimating the econometric model, testing and correcting for misspecification in the estimated model, describing the empirical findings, and discussing their relevance for the investigated problem. The second specific goal also includes learning to use an econometric program such as SHAZAM.

The course consists of lectures and independent studies in the form of reading the textbook, solving problem sets, doing PC exercises, and writing a term paper. The students are encouraged to work in groups, however, a maximum of two students can write one term paper. It is important to get started with all the activities early in the semester.

The lecturer will have two office hours each week.

Demodar N. Gujarati and Dawn C. Porter (2009). Basic Econometrics, fifth edition, McGraw-Hill. The textbook used in the course may be changed.

Mathematics (MATH100), statistics (STAT100), and microeconomics (ECN210).

Macroeconomics and courses in applied economics.

60% of the final grade will be based upon a 3.5 hour written examination. 40% of the final grade will be based on a term paper. Students must have a passing grade (A-E) on both the term paper and the written examination to get a passing grade in this subject.

The expected total workload of this course is 300 hours. About 250 hours are unstructured time. About 150 hours must be allocated to independent studies (such as reading, doing problem sets, etc) and about 100 hours to the term paper.

Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)

The course partly overlaps with ECN202 and STAT200. There is reduction in credits for ECN202 (5 credits) and STAT200 (5 credits).

There are four hours of lectures and/or exercises per week or a total of about 50 hours of structured time. The lectures will take about 60% of the structured time and the exercises about 40% of the structured time.

ECN202 is a basic version of ECN201. However, ECN202 does not use the computer program SHAZAM and does not include a term paper. A different textbook is also used in ECN202. 

The course is graded by an internal examiner. External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.