autumn 2019

SOK-3020 Econometrics - 10 ECTS

Sist endret: 20.09.2019

The course is provided by

Faculty of Biosciences, Fisheries and Economics

Location

Tromsø |

Application deadline

Applicants from Nordic countries: June 1st for the autumn semester and December 1st for the spring semester. Exchange students: October 1st for the spring semester and April 15th for the autumn semester. 

Exchange students are students from academic institutions with which UiT The Arctic University of Norway have formal exchange agreements.

Type of course

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.

Admission requirements

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.

 Application code 9371

Course content

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

Objectives of the course

After completing the course the students have obtained the following:

Knowledge

  • Have advanced understanding of the main methodological techniques of econometrics, including their strengths and limitations.
  • Have a deep understanding of the main empirical models, the theories explaining them, and the empirical literature in selected applied areas.
  • Have a deep understanding of the main estimation procedures, including ordinary least squares, instrumental variables estimation and maximum likelihood estimation.
  • Have an appreciation of the range of more advanced techniques that exist and that may be covered in subsequent econometric courses.

Skills

  • Be able to apply econometric tools to modeling, estimation, inference and forecasting in the context of real world economic problems.
  • Be able to apply econometric techniques to test economic theories and measure and estimate relevant economic parameters.
  • Be able to communicate and evaluate econometric results and descriptive statistics in ways that are critical and rigorous.
  • Be able to identify an interesting research problem.

Competence

  • Have practical experience of the application of econometric methods, and be able to use relevant software to work with data to estimate and interpret models.
  • Have a rigorous understanding of issues in connecting data, statistics and economic theory.
  • Be able to identify the correct estimation procedure and model for a given economic problem and subsequent data.
  • Be able to formulate and test relevant economic hypotheses, and draw conclusions thereof.
  • Be able to understand relevant econometric research.

Language of instruction

English.

Teaching methods

Lectures and seminars. The students need to be present at campus, and participate in lectures/seminars and possibly group-work. Students should bring a laptop to lectures/seminars.

Assessment

Course work requirement: A portfolio of compulsory term work requirements. One of which is "ikomp", which is an online course in information literacy; Ikomp; http://www.mooc.no/course/ikomp/ Exam Written exam lasting 4 hours, comprising 100% of the final course grade. A graded scale of five marks from A to E for pass and F for fail. There will be arranged a re-sit exam for this course. Place of exam: Tromsø

Date for examination

Written examination 04.12.2019

The date for the exam can be changed. The final date will be announced in the StudentWeb early in May and early in November.

Schedule

Course overlap

SØ-416 Econometrics I 5 stp
SØ-417 Econometrics II 5 stp

Recommended reading/syllabus

Pensumliste for SOK-3020 Econometrics