Course code ECN201

ECN201 Econometrics

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Showing course contents for the educational year starting in 2015 .

Course responsible: Kyrre Rickertsen, Kyrre Rickertsen
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: EN
(NO=norsk, EN=Engelsk)
Teaching exam periods:
This course has teaching/evaluation in Autumn parallel.
Course frequency: Annually
First time: 2006H
Preferential right:
B-ECON and M-ECON.
Course contents:
The lectures in ECN201 cover two- and multiple-variable regression analysis, Ordinary Least Squares (OLS), hypothesis testing, violations of OLS assumptions, Generalized Least Squares (GLS), dummy independent variables, and the use of the econometric program Stata. In addition, there are problem sets, computer exercises, and a term paper.
Learning outcome:
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 the econometric program Stata.
Learning activities:
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.
Teaching support:
The lecturer will have two office hours each week.
Syllabus:

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

Students need to purchase a personal license for Stata for their own PC. The license has to be purchased from StataNordic, http://statanordic.com/http://statanordic.com/

For this course, the "Small Stata Six-months 13, Student Only¿ version is sufficient.

Prerequisites:
Mathematics (MATH100), statistics (STAT100), and microeconomics (ECN210).
Recommended prerequisites:
Macroeconomics and courses in applied economics.
Assessment:
60% of the final grade will be based upon a 3.5 hour written examination. 40% of the final grade will be based on the 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.
Nominal workload:
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.
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)
Reduction of credits:
The course partly overlaps with ECN202 and STAT200. There is reduction in credits for ECN202 (5 credits) and STAT200 (5 credits).
Type of course:
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.
Note:
ECN202 is a basic version of ECN201. However, ECN202 does not use the computer program Stata and does not include a term paper. A different textbook is also used in ECN202. 
Examiner:
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.
Allowed examination aids: Calculator handed out, no other aids
Examination details: Continuous exam: A - E / Ikke bestått