Course code ECN201

ECN201 Econometrics

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Showing course contents for the educational year 2019 - 2020 .

Course responsible: 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: Study year 2006-2007
Preferential right:
B-ECON and M-ECON.
Course contents:
The course covers two- and multiple-variable regression analysis. Topics include: Ordinary Least Squares (OLS), hypothesis testing, violations of the OLS assumptions, Generalized Least Squares (GLS), dummy independent variables. The econometric program Stata is used in computer exercises and the required term paper.
Learning outcome:

Knowledge

You should know:

- Basic concepts in econometrics

- Regression analysis of economic data

- The assumptions of the classical linear regression model and consequences of violating these assumptions

- Hypothesis testing by using t- and F-tests

- Testing and correcting for misspecification in the single equation context

- The use of Stata in regression analysis

Skills

You should be able to:

- Do basic econometric calculations by using  a calculator

- Interpret and critically evaluate outcomes of empirical analysis

- Do an econometric analysis in Stata using your own data

General competence

You should be able to:

- Read and understand reports and articles that make use of the methods introduced in this course

- Use Stata in your own academic work, for example, in analysis needed in a master thesis

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. The term paper is a group exercise. Two to four students can participate in one group. In special cases, one student can write the paper alone, however, the paper will be evaluated as if it was written by a group. 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.

The TA will have some office time for advising on the term paper.

Syllabus:

Jeffrey M. Wooldridge. Introductory Econometrics - A Modern Approach, 7th edition, Cengage. The textbook used in the course may be changed.

Stata will be available for installation on personal computers and laptops.

Prerequisites:
Mathematics (e.g., MATH100 Introductory Mathematics or ECN102 Introduction to Mathematics for Economists), statistics (e.g., STAT100 Statistics), and microeconomics (e.g., ECN210 Intermediate Microeconomics- Consumers, Producers, Market and Welfare).
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. A term paper and its grade is valid the year the term paper is written and the next year. No re-examination is offered. 
Nominal workload:
300 hours
Entrance requirements:
Minimum requirements for entrance to higher education in Norway (generell studiekompetanse).
Reduction of credits:
The course partly overlaps with ECN202 Introduction to Econometrics and STAT200 Regression Analysis. There is reduction in credits for ECN202 (5 ECTS) and STAT200 (5 ECTS).
Type of course:
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.
Note:
The course is in English. Incoming students can contact student advisors at the School of Economics and Business (studieveileder-hh@nmbu.no) for admission to the course. 
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: B1 Calculator handed out, no other aids
Examination details: Continuous exam: A - E / F