ECN201 Econometrics
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Showing course contents for the educational year 2022 - 2023 .
Course responsible: Kyrre Rickertsen
ECTS credits: 10
Faculty: School of Economics and Business
Teaching language: EN
(NO=norsk, EN=Engelsk)
(NO=norsk, EN=Engelsk)
Limits of class size:
80
Teaching exam periods:
The course starts in Autumn parallel. The course has teaching/evaluation in Autumn parallel.
Course frequency: Annually
First time: Study year 2006-2007
Preferential right:
1) B-ECON and M-ECON
2) M-ØA
3) M-IØ
4) Others
Course contents:
The course covers simple and multiple 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:
The student 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
- How to use of Stata in regression analysis
The student should be able to:
- Do basic econometric calculations by using a calculator
- Read, interpret and critically evaluate reports and articles that use regression analysis
- Do an econometric analysis in Stata using his/her own data
The student should be able to:
- Identify problems and formulate researchable questions in applied economics
- Work in groups on researchable questions in applied economics
- Write a group report based on the group's analyses
Learning activities:
Teaching on campus without streaming. 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:
You can make an appointment with the lecturer by sending an e-mail to lecturer
The TA will have some 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:
Introductory mathematics such as MATH100 Introductory Mathematics or ECN102 Introduction to Mathematics for Economists, statistics such as STAT100 Statistics, and microeconomics such as ECN210 Intermediate Microeconomics: Consumers, Producers, Market and Welfare.
Recommended prerequisites:
Basic knowledge about macroeconomics, for example, ECN120 Macroeconomics I - Markets, Economic Development and Welfare
Assessment:
Combined assessment: 60% of the final grade will be based upon a 3,5 hour written exam in examination period (A-F). 40% of the final grade will be based on the term paper (A-F). Students must have a passing grade (A-E) on both the term paper and the written exam separately to pass the course. A term paper and its grade is valid the year the term paper is written and the following year, but the term paper has to be resubmitted if last year's paper is used. No retake exam.
Nominal workload:
250 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:
250 hours. About 28 hours of lectures and 20 hours of exercises. About 200 hours are unstructured time allocated to independent studies such as reading, working independently on ten problem sets, and working on the term paper. Even tough the problem sets are not required, they are very important for the work on the term paper and as a preparation for the exam.
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.
Examination details: :