Economics: Econometrics

A combination of economic theory, mathematics, and statistics for testing economic hypothesis and developing economic models. Conceptual development and applications. Prerequisites: ECON 2400, ECON 2450, STAT 1410.

Prereqs enforced by the system: ECON 2400 AND ECON 2450; and STAT 1410. PACE students with permission and override. Instructor permission

This course will provide a theoretical and practical background in basic econometric techniques. The major topics covered include a review of probability distributions and statistical inference, classical linear regression with two or more variables, estimation and hypothesis testing, and violations of classical assumptions. The goals of the course are to learn how to test economic theories using data, to implement econometric models and interpret the results, and to work with actual data using tools like Stata or R. Learning Objectives: • To understand and apply foundational tools in econometric theory • To use econometric tools and statistical packages (Stata or R) to analyze real-world data and interpret findings • To formulate, assess, and answer economic questions by selecting and applying appropriate econometric techniques Students can review the website from a past version of the class here: https://ec200s22.netlify.app/

Students should expect to spend substantial time reading the textbook and assigned papers, completing homework assignments, and preparing a substantial research paper involving original data analysis. The required textbook for this course is Introduction to Econometrics, Stock and Watson, 3rd Edition updated ISBN# 0133486877 (used editions are fine). Students will use Stat or R extensively in this course, both of which are free to all students.

Grades will be based on in-class labs, problem sets, three exams, and a research paper