ECON 524 - Introduction to Econometrics

Description:
Evaluation of economic models and forecasting of economic variables using multiple regression techniques and cross sectional data. Brief introduction to advanced techniques which may include IV, time series, logit and probit, or panel data methods. ECON 424 and ECON 524 are layered courses; students may not receive credit for both.

Prerequisites:
Prerequisites: BUS 221 or LAJ 400 or MATH 210 or MATH 211 or PSY 362 or SOC 364 or equivalent course.

Credits:
(5)

Learner Outcomes:
Upon successful completion of this course, the student will be able to:

Construct a linear econometric model that may be used to evaluate the validity of an economic model.
Enter data into regression software packages, and use that data to estimate linear econometric models
Determine the statistical significance of variables in linear econometric estimations.
Forecast the value of dependent variables for given values of independent variables.
Test and correct for heteroskedasticity.
Identify functional form misspecification, including omitted variable bias, and correct for misspecification with additional variables, proxy variables, and instrumental variables.
Independently examine an economics or business issue, by formulating a hypothesis, collecting relevant data, utilizing advanced econometrics methods, and developing a report discussing the relevance of results for decision makers.

Learner Outcomes Approval Date:
2/19/21

Anticipated Course Offering Terms and Locations: