The first part of the name econometrics derives directly from 'economics'. It provides the logic used to define the specific econometric models.
Metrics refers to 'measurement', specifically here, the statistical measurement and evaluation of real world data.
This course will provide an outline of the core methods and approaches used in econometrics.
Econometrics is a powerful tool. It is the area of economics in which the intricate theories used to describe the interactions between individuals, firms and economies, are tested and proved or disproved. The reliance on econometric testing of theories is fundamental to economic thinking, helping to ensure developed theories do, and continue to, accurately describe the real world.
Tbe ability to apply econometrics succesfully to real world probems will not only contribute to important policy and business decisions, but very likely improve you value as an employee.
Introductory Econometrics, A Modern Approach: By Jeffrey Wooldridge iIs an entry level textbook in econometrics, and the main point of reference for this cours. The book provides a well rounded coverage of the concepts and methods used to undertake good econometric work. While an entry level text, there are many aspects of the book for the more advanced student too.
Homework sets: Will be provided. Any course in econometrics requires practice and effort outside of the classroom as well as inside.
Lecture notes: will become available on this page, in the space below, as the semester passes. Notes will in general be made available before the class, allowing the ability to review the material and bring relevant questions with you.