MET 3592 Econometrics

APPLIES TO ACADEMIC YEAR 2012/2013

MET 3592 Econometrics

Responsible for the course
Genaro Sucarrat

Department
Department of Economics

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
The main objective of the course is to give students an introduction to financial data analysis using regression methods. Regression analysis is a very powerful tool that can illuminate a large number of economic issues, and is very often the basics to more advanced techniques in econometrics.

Learning outcome
Acquired Knowledge
After completing the course, students should have knowledge of:
  • Basic econometrics and multiple regression analysis.
  • Limitations in terms of violations of statistical assumptions.
  • Interpretation of results, test results, and not least understand the basis of these tests.
  • How to draw conclusions on the basis of statistical calculations.
  • Critical evaluation of the statistical results and the conclusions drawn.

Acquired Skills
After completing the course, students will be able to:
  • Implement regression of suitable data using modern software.
  • Testing hypotheses using software.
  • Consider a dataset quality and relevance of regression analysis for the given data.
  • Performing transformations of data if this should occur.
  • Mastering both linear and non-linear econometric models.

Reflection
Students will develop an awareness of analysis and processing of data, and evaluate and interpret statistical results in a critical manner. Students should know that the statistical analysis is the analysis under uncertainty and that the uncertainty should appear when an appropriate manner when the statistical results are presented.

Prerequisites
MET 2920 Statistics for Economists or MET 3431 statistics. Similarly approved.

Compulsory reading
Books:
Gujarati, Damodar. 2011. Econometrics by example : adapted for the course MET 3592 Økonometri at BI Norwegian Business School. Palgrave Macmillan

Recommended reading

Course outline
  • Statistical estimation and hypothesis testing
  • Simple and multiple regression
  • Different functional forms
  • Regression with qualitative variables by right-wing dummy variables
  • Multicollinearity
  • Heteroscedasticity
  • Autocorrelation
  • Model specification error and model selection
  • Dynamic models and prediction
  • Leftist Qualitative Variables

Computer-based tools
EViews, SAS JMP, SPSS, Gretl, Stata or equivalent.

Learning process and workload
Lectures will be combined with exercises with and without software.

Recommended use of hours:
Aktivitet
Timebruk
Lectures
36
Review of assgnments / Practice in the use of software
6
Preparation and training in the use of software
98
Independent study and group work
40
Exercises
17
Examination
3
Recommended use of hours
200

Coursework requirements
As a part of the learning process there is work requirement in the course, which means that you by specified deadlines must submit two individual assignments electronically. Work requirement is published om Itslearning and consists of two mandatory case-based assignments which include use of the software included. It will be given ample opportunity to get these completed. Feedback will be provided via lectures.

BI Online Courses
Itslearning is also used by BI Online Courses as a online learning platform. Online learning course material, exercises (including exercises in the folder submission task with feedback), plus any case and digital learning resources will be published here. Students are given the opportunity to communicate with the teacher and fellow students.
Intensive classes are offered both at the beginning and at the end of the semester, and online students are also offered a study guide, an educational guide to the literature.

Recommended use of hours:
Aktivitet Timebruk
Lectures
8
Preparation and training in the use of software
98
Independent study and group work
40
Exercises
54
Examination
3
Recommended use of hours
200


Coursework requirements
In order to sit for the exam one of two assignments must be approved. See section "Learning process and workload".

Examination
A three hour individual multiple choice exam concludes the course.
The examination will partly be based on a case that will be handed out about two weeks before the examination date. The case solution are not to be submitted for grading, but should be brought as a support material for the examination which will include questions from the case.


Examination code(s)
MET 35921 - multiple choice exam, which counts for 100% of the grade in EXC 3592 Econometrics, 7.5 credits.

Examination support materials
All support materials are allowed incl. exam calculator TEXAS INSTRUMENTS BA II Plus ™
On the web pages @BI you will find more information about support materials. Please, note the use of calculators. http://www.bi.no/studiehandbok/hjelpemidler


Re-sit examination
Re.-sit examiniation is offered every semester.

Additional information