ECO 480LEC—Econometrics I

This course is the first class on basic applied econometrics, introducing students to the fundamental concepts and techniques used to analyze data. The course focuses on the multiple linear regression models and their assumptions, estimation techniques, and statistical inferences. Econometrics is a tool that allows one to use data and statistical techniques to answer real-world questions. Econometrics is used in all social science settings. For example, economists use econometrics to test predictions of economic theory or conduct policy analysis, governments use econometrics to study the effects of government policies, and businesses use historical data to forecast sales growth. This course emphasizes practical applications and interpreting the findings of applied econometric studies. One essential learning outcome of the class is estimating econometric models using actual data. Therefore, an important part of the class will be the use of Stata, a versatile and powerful computer statistical package used to analyze data. Knowledge of econometrics is valuable for many types of jobs; therefore, knowing a software package such as Stata is also extremely valuable.