Econometrics: Principles

This course can be taken as a singular course. To be eligible for the singular course, the applicant must meet the admission requirements for the associated master's programme

The course provides a general introduction to applied econometrics. It introduces the student to methodologies for analyzing economic problems using quantitative methods. There will be an emphasis on linking economic theory to estimation techniques, and on interpreting the results of various quantitative exercises using the R software for statistical computing and graphics. By the end of the course, students should have become proficient in specifying, estimating, and interpreting regression models as applied to a variety of economic problems and data.

Admission requirements

Local admission, application code 9371 Master`s level singular course.

A Bachelor's degree or equivalent in economics. (An example of an equivalent degree can be another bachelor's degree containing a minimum of 80 ECTS in economics.)

· The Norwegian grading system is an A-F scale in which A is the highest score and F is fail. An average grade C from a bachelor degree issued in Norway is the minimum requirement for admission to the master's level for students with Norwegian study background.

· Applicants who hold a bachelor's degree or equivalent issued in Europe, Canada, USA, Australia and New Zealand must have an average grade C as a minimum, or the corresponding numerical mark/percentage score to be considered for admission.

· Applicants who hold a bachelor's degree or equivalent issued in countries other than the above mentioned region/countries must have an average grade B as a minimum, or the corresponding numerical mark/percentage score to be considered for admission.

Objectives of the course

Students who have completed the course should have achieved the following learning outcomes:

Knowledge

The student has

• thorough understanding of the most important methodological techniques in econometrics, including their strengths and limitations
• solid understanding of key empirical models, the economic theories that explain them, and the empirical literature in selected applied areas
• comprehensive understanding of the most important estimation procedures, including ordinary least squares (OLS) and maximum likelihood estimation (MLE)
• overview knowledge of advanced econometric techniques that may be covered in subsequent courses

Skills

The student can

• apply econometric tools for modeling, estimation, inference, and forecasting in the context of real-world economic problems
• apply econometric techniques to test economic theories and measure and estimate relevant economic parameters
• use relevant software (R) to work with data, estimate econometric models, and interpret results
• communicate econometric results and descriptive statistics in ways that are clear, precise and rigorous

General competence

The student

• can identify interesting and relevant research problems within economics
• can select and justify the appropriate estimation procedure and model for a given economic problem and dataset
• can formulate and test relevant economic hypotheses, and draw robust conclusions from empirical analysis
• can critically evaluate published econometric research and assess the validity of empirical findings
• understands the fundamental issues involved in linking data, statistical methods, and economic theory
• has developed independence in conducting applied econometric analysis

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If you pass the examination in this course, you will get an reduction in credits (as stated below), if you previously have passed the following courses:

• SØ-416 Econometrics I 5 ects
• SØ-417 Econometrics II 5 ects
• SOK-3020 Econometrics 7.5 ects

There will be 12 lectures and 8 seminars.

Teaching will be primaraly in english.

Language of instruction and examination

Schedule

This course is open to incoming exchange students.

Study level: Master’s

Admission prerequisites:
This course has admission prerequisites, which are listed under the Admission requirements section. Please review this information carefully before adding the course to your Learning Agreement.

For details on how to apply for exchange, course selection guidelines, or to contact the Incoming Admissions Team, please visit: Admissions for Student Exchange.

Re-sit examination