ECON4150 - Introductory Econometrics
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Course content
The course presents and discusses statistical methods for analysing single equation econometric models. The theory of the regression model, and its application to real world data will therefore have a central place both in the lectures and in seminars.
The statistical theory for the case of regression with random explanatory variables is given in the first part of the course.
In order to adapt the regression model to cross section and time-series data, the course will also show how to estimate parameters in regressions equations when the random disturbances are allowed to be heteroskedastic or auto-correlated, and how to use estimated regression models for prediction.
A brief introduction to the method of moments and the maximum likelihood principle for estimation of the parameters of a single equation econometric model is also given in this course.
Learning outcomes
Knowledge outcomes
The course builds on the first course in statistics (ECON2130 - Statistics 1), and aims at giving students a broad knowledge of regression analysis relevant for analysing economic data.
The emphasis will be on interpretation and critical evaluation of the outcomes of empirical analysis and some elementary procedures for model validation in the single equation context.
At the same time, being an introductory course for the advanced econometric courses in the master programme, the course will also give some theoretical background for the standard methods used in empirical analyses. Thus students will acquire basic knowledge about properties of least squares estimators and the statistical testing of hypothesis.
Skills
Stata is a program package which is widely used in the social sciences and for econometric analyses in particular.
Students will be given a brief introduction to Stata at the beginning of the term.
Seminars will enable students to apply the program in regression analyses of empirical data.
The course will train the student to be a more qualified user of econometric methods. Thus, it will enable students to perform statistical tests to investigate whether the classical assumptions in regression analysis are satisfied.
If heteroskedastic or auto-correlated disturbances are present the student will be able to deal with the problems they give rise to.
Finally, the course will enable students to be critical readers of empirical analyses in the literature.
Admission
Students at UiO must apply for courses in StudentWeb.
International applicants, if you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures for international applicants.
Prerequisites
Formal prerequisites
A bachelor's degree in Economics or equvialent, and ECON2200 - Mathematics 1/Microeconomics 1, ECON2130 - Statistics 1, or equvialent
Overlap
10 credits against ECON3150 - Introductory Econometrics. 10 credits against SØK2ØMG Økonometri grunnkurs. 10 credits against ECON4135 - Applied statistical analysis for the social sciences. 5 credits against STK2120 - Statistical Methods and Data Analysis 2. 5 credits against STK1120 - Statistical methods and data analysis 2.
Teaching
Lectures: 4 hours per week in the first part of the semester, then 2 hours.
Seminars: 2 hours per week through parts of the semester.
There might occur weeks exempt from teaching.
Exam information
A 3-hour written school exam.
Exam resources
Resources allowed: Open book examination where all printed and written resources, in addition to calculator, are allowed.
Language of examination
The problem set will be given in English. Answers can be given in Norwegian, Swedish, Danish or in English. See § 6.4 i Forskrift om studier og eksamener ved Universitetet i Oslo .
Explanations and appeals
Explanations and complaints over grades at the Department of Economics
Students can request an explanation of their grades, and can also appeal against their grades or make a complaint about formal examination errors. Read more about explanations and appeals
Possibility of make-up exams and re-takes
The Department of Economics has passed following resolution for ECON-courses: It will no longer be possible for candidates to register for an exam in a lower level course after having passed exams in intermediate and advanced level courses in the same subject area (also where there are no pre-requisites that apply to the intermediate course). Further information can be found here.
Students who might wish to retake the exam later, are not guaranteed that the course is ever repeated with a similar reading list, nor that the exam arrangement will be the same.
You can usually resit an exam, but the conditions depend on whether you had a valid reason for absence from the regular exam. Read more about resitting an exam .
Withdrawing from exams and limits on re-takes
A student can sit for this exam up to 3 times. If a student wishes to withdraw from the exam, s/he must do this in StudentWeb at least two weeks prior to the first day of the exam. Failure to do so will be counted as one of the three opportunities to sit for the exam.
Exam options for students with special needs
Students may apply for access to alternative exam resources or exam forms on the basis of chronic illness and/or special needs that create a marked disadvantage to other students in the exam situation. Mothers who are breastfeeding may apply for extra time to complete the exam.
Other information
ECON4150 - Introductory Econometrics is the course number for registration for lecture, seminar and exam for master's students. ECON3150 - Introductory Econometrics is the course number for bachelor's students.
Contact us
Department of Economics
Visiting address:
Moltke Moes vei 31, Eilert Sundts house, 12th floor
Visiting hours:
10.15-11.00 and 12.15-15.00
Postal address:
P.O box 1095 Blindern
0317 Oslo
Fax: +47 22855035
E-mail: post@econ.uio.no
Web: http://www.sv.uio.no/econ/english/