Econometrics

Introduction

Econometrics is the application of statistical methods to economic data, serving as a vital branch of economics that seeks to provide empirical insights into economic relationships. It functions as a powerful tool for empirical research, enabling economists to test hypotheses, forecast outcomes, and offer policy recommendations based on rigorous analysis of economic data.

I am fortunate to learn econometrics from Professor Mariya Naumova at Rutgers Business School. She is an exceptional teacher who delves into econometric topics with depth and practicality, making complex concepts accessible and relevant.

In the advanced math sections, discussions will be more rigorous and detailed, emphasizing the theoretical foundations of econometric methods compared to the basic math sections. For example, simple linear regression will be examined through the lens of the Gauss-Markov theorem, which outlines the conditions that ensure the Ordinary Least Squares (OLS) estimator is the Best Linear Unbiased Estimator (BLUE). Additionally, we will delve into the mathematical properties of the OLS estimator.

This topic also contains a practical component, where we will use Excel and R to implement econometric models and analyze real-world data.

Topics

Pre-requisite: Probability and Statistics, Calculus

• Univariate Regression
• Multivariable Regression
• Logistic Regression

Additionally, further topics will be explored in Time Series Analysis.