S311 Applied Econometrics
Lecturer | Prof. Dr. Joachim Grammig |
Level | 3. Year B.Sc. |
Profiles | B.Sc. International Economics, |
Language | English |
Time and Place | Monday, 8-10 am, HS24 Kupferbau |
Exam | written exam |
Credit Points | 6 ECTS |
Start | 16-4-2018 |
Content
The course gives both a rigorous and applied introduction to modern econometrics. How regression makes sense: What is the justification for linear regressions in the first place? Theory-based regression, conditional expectation function, prediction and causal model. The algebra of least squares. Classical assumptions and large sample results. Specification issues (omitted variables and multicollinearity). Generalized Least Squares. Endogeneity: Reasons and solutions. Instrumental Variables. Generalized Method of Moments, Two-Stage Least Squares. The course tries to balance intuitive understanding with rigorous treatment. The course "Quantitative Methods in Economics and Business" (or comparable) is a prerequisite.