Applied Econometrics

Course introduces students with econometrics and its place in economic studies, provides knowledge necessary to apply econometric methods. Course starts with introduction to econometrics and then goes thought different regression models, analysis of: errors, model parameters inference, autocorrelation, heteroscedasticity and collinearity. Course ends with introduction to time series and panel data models. Material presented during theoretical lectures is applied by solving tasks using Gretl program.

To acquire knowledge about econometrics and its place in studies of economics and other social sciences and skills required for analysis of micro and macroeconomic phenomena using econometric technique by applying the following principle: hypothesis --> model formation --> data collection --> estimation --> preparation of conclusions --> the usage of conclusion and model parameters for the analysis and interpretation.

Statistics

1. Concept of econometrics. Stages of econometric re-search. 2. Recurrence of descriptive statistics and probability theory. 3. Classical linear regression with cross-sectional data and OLS. 4. Outliers: identification and elimination. Measurement of economic phenomena. 5. Nonlinear regression with cross-sectional data and OLS. 6. Multiple regression with cross-sectional data and OLS. 7. Normality of residuals. 8. Assumptions of regression model: autocorrelation and OLS. 9. Assumptions of regression model: multicollinearity and OLS. 10. Assumptions of regression model: heteroscedasticity and WLS. 11. Regression with dummy variables. 12. Introduction to panel data regression models.

1. Student is able to plan, organize and, at least according to half of the criteria, carry out a research on a chosen topic, which evaluates economic changes in organizations, country and the world, applying econometric knowledge and methods. 2. Student is able to collect and systematize quantitative and qualitative data, select and justify methods for their analysis and conduct research according to at least half of the criteria; creatively and critically applying these methods, formulate analysis conclusions, and prepare reports. 3. The student is able to conduct research using appropriate methods and prepare reports based on at least half of the criteria. 4. Student communicates minimally constructively, presenting the research results to the audience, discusses the main topical issues in the research topic, cohesively and convincingly expresses thoughts orally and in writing, conveying knowledge and understanding.