Als er tijdens het academiejaar aangepast wordt naar code oranje of rood, zijn er wijzigingen mogelijk o.a. in de gebruikte werk - en evaluatievormen.

Course Code : | 1304TEWKWM |

Study domain: | Statistics |

Academic year: | 2020-2021 |

Semester: | 1st semester |

Sequentiality: | The student must have obtained a credit for the following courses: - 'Beschrijvende statistiek en kansrekenen' or 'Statistiek I' - 'Statistiek II' - 'Micro-economie' (or included in study programme) - 'Macro-economie' (or included in study programme) |

Contact hours: | 60 |

Credits: | 6 |

Study load (hours): | 168 |

Contract restrictions: | No contract restriction |

Language of instruction: | English |

Exam period: | exam in the 1st semester |

Lecturer(s) | Sunčica Vujić Sofie Cabus |

At the start of this course the student should have acquired the following competences:

an active knowledge of

general notion of the basic concepts of

specific prerequisites for this course

an active knowledge of

- English

- general knowledge of the use of a PC and the Internet

general notion of the basic concepts of

*Text edit and presentation software*: Be able to use Microsoft office packages (Word, Excel, PPT)

specific prerequisites for this course

*Economics*: Introductory level courses in both micro- and macro-economics*Mathematics and statistics*: Introductory level courses in mathematics and statistics (both at the level covered in the first bachelor year of economics)

- Analyst: You have a deep understanding of methods and practical use of econometrics.
- Analyst: You have a foundation for further study of more advanced econometric methods.
- Coordinator: You can apply econometric methods to model, estimate and analyse real world economic problems.
- Coordinator: You are able to critically evaluate policy oriented and scientific work using standard econometric tools.
- Communicator: You can answer open exam questions and present results in a clear and structured way.

**Introduction to Econometrics** is based upon the development of statistical methods for estimating economic relationships, testing economic theories, and evaluating and implementing government and business policies. Econometrics uses statistical tests to tackle various questions, including: How well or badly does the model fit the observed data? Does any other available model fit them any better? In any model, how large is the estimate of the effects of one variable on any other, and how reliable is the estimate?

A common application of econometrics is to the forecasting of macroeconomic variables such as interest rates, inflation rates, and gross domestic product. While forecasts of economic indicators are highly visible and often widely published, econometric methods can also be used to answer specific causal questions, *as if* in a randomized clinical trial, in the area of education, crime, health, gender, labour, etc.

**Introduction to Econometrics** is designed as a first course in undergraduate econometrics. The goal of this course is to use statistical analysis, including the classical regression model, to estimate relevant economic parameters, predict economic outcomes, and test economic hypotheses using quantitative data; to understand the basic assumptions of the classical linear regression model, and identify and correct (if possible) any violations of these assumptions, such as autocorrelation, heteroscedasticity, and multicollinearity; to develop and maintain a working knowledge of econometrics that will provide a basic foundation for future study in econometrics and statistical techniques. The course is not theorem-proof driven, but emphasises motivation, understanding, implementation, and interpretation.

**Part I. Introduction and Review **

- Economic Questions and Data
- Review of Probability and Statistics

**Part II. Fundamentals of Regression Analysis **

- The Simple Linear Regression Model
- Hypothesis Tests and Confidence Intervals
- The Multiple Regression Model
- Further Inference in the Multiple Regression Model
- Nonlinear Regression Functions
- Assessing Studies Based on Multiple Regression

**Part III. Further Topics in Regression Analysis**

- Regression with a Binary Dependent Variable
- Instrumental Variables Regression

The course has an international dimension.

Class contact teachingLectures Practice sessions Seminars/Tutorials Laboratory sessions

Personal workExercises

Directed self-study

Personal work

Directed self-study

ExaminationWritten examination without oral presentation Closed book

Continuous assessmentExercises Assignments

Self-directed assessmentSelf-assessment

Continuous assessment

Self-directed assessment

**TEXTBOOK:**Stock, J. and M. W. Watson (4th Edition). Introduction to Econometrics. Essex: Pearson Education Ltd.

**Why this textbook? Because of great supplementary student resources!**

**SOFTWARE:**Stata 16 (available on Campus and from home)

**COSTS** of the study material:

- The costs of Introduction to Econometrics + myEconlab @ACCO: €80.50 (students with the ACCO card receieve a 10% discount; the cost is then €72.50)

- Gujarati, D. N. and D. C. Porter (2009). Basic Econometrics (5th ed.). New York: McGraw-Hill, Inc.
- Wooldridge, J. M. (2009). Introductory Econometrics: A Modern Approach (4th ed.). South-Western: Thomson.
- R.C. Hill, W.E. Griffiths, G.C. Lim (2012) Principles of Econometrics (POE), 4th edition, John Wiley & Sons.

**Prof. Dr. Sofie Cabus**

E-mail: sofie.cabus@uantwerpen.be

Office hours (Monday 2-4 pm), Semester 1: TBD

**Prof. Dr. Sunčica Vujić**

E-mail: suncica.vujic@uantwerpen.be

Office hours, Semester 1: TBD (B.130)

**NOTE:** Please send an email in advance with a date and a question. In this way you can receive the best and most structured answer possible when you come to the office hours.