ECON3150 ¨C Introductory Econometrics

Course content

This course is equivalent with ECON4150 ¨C Introductory Econometrics

This is the compulsory course in econometrics. It builds on the bachelor¡¯s level course in statistics and is the starting point for advanced econometrics. In this course you will become familiar with statistical methods for analysing single and two equation econometric models. In addition to the theoretical aspects of these methods, you will also learn how use the statistical software R to analyse economic data using the regression methods introduced in this course.

Central themes, both for lectures and seminars, are:

• properties of ordinary least squares (OLS) and two-stage least squares (2SLS) estimators
• quantifying statistical uncertainty within regression frameworks
• how to model relationships between economic variables to recover estimates of population parameters of interest
• the difference between correlation and causality, and how this matters for how we interpret and use statistical analysis

Learning outcome

Knowledge

You should

• understand the mechanical and statistical properties of regression methods
• understand the assumptions that are necessary to interpret the results of analysis for appropriate decision making?
• understand elementary procedures for model validation

Skills

You should

• be able to choose the appropriate statistical method for the question at hand
• be able to interpret and critically evaluate outcomes of regression analyses
• be able to use R to perform regression analysis of data, including relevant statistical inference

Competence

You should

• be able to read and understand project reports and journal articles that make use of the concepts and methods that are introduced in the course
• be able to make use of econometric models in your own academic work, for example in analyses needed for your master¡¯s thesis

Admission to the course

Students at UiO must apply for courses in Studentweb.

If you are not already enrolled as a student at UiO, please see our information about admission requirements and procedures.

You can not attend this course if you have already passed specific ECON-courses at a higher level.

This course is not available for single course students.

Formal prerequisite knowledge

• ECON1100 ¨C Matematikk I, or equivalent.

Alternatively

• MAT1100 ¨C Calculus
• STK1100 ¨C Probability and Statistical Modelling
• ECON1210 ¨C Mikro?konomi 1 or ECON1500 ¨C Innf?ring i samfunns?konomi for realister (discontinued) or MAT1700 ¨C Introduction to micro and macro economics (discontinued)

Recommended previous knowledge

• Students who do not have ECON2130 ¨C Statistikk 1 or equivalent, are advised not to take this course.

Overlapping courses

• 10 credits overlap with S?K2?MG.
• 10 credits overlap with ECON4150 ¨C Introductory Econometrics.
• 10 credits overlap with ECON4135 ¨C Applied statistics and econometrics (discontinued).
• 5 credits overlap with STK1120 ¨C Statistical methods and data analysis 2 (continued).

Teaching

Lectures and seminars.

Compulsory tuition activity:

• A compulsory term paper

If you have submitted your compulsory assignment and not gotten it approved, you may be given a new attempt. The new attempt will have a short deadline.

When the compulsory term paper is approved, the result will be registered. The approved compulsory term paper is valid for 9 semesters, starting with the semester in which it is passed.

See The Faculty of Social Sciences` rules regarding compulsory tuition activities.

Candidates who have passed the course before autumn 2016 and wish to re-take the exam need to get the term paper approved before they can re-take the exam.

Absence from compulsory tuition activities

If you are ill or have another valid reason for being absent from compulsory tuition activities, your absence may be approved or the compulsory activity may be postponed.

• Report absence from or the need for a postponed deadline on a compulsory tuition activity

A student who has completed compulsory instruction and coursework and has had these approved, is not entitled to repeat that instruction and coursework. A student who has been admitted to a course, but who has not completed compulsory instruction and coursework or had these approved, is entitled to repeat that instruction and coursework, depending on available capacity.

?Access to teaching

A student who has completed compulsory instruction and coursework and has had these approved, is not entitled to repeat that instruction and coursework. A student who has been admitted to a course, but who has not completed compulsory instruction and coursework or had these approved, is entitled to repeat that instruction and coursework, depending on available capacity.

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Examination

A 3-hour written school exam.

You must have passed the mandatory activities in order to sit for the exam.

Previous exams

Exam papers with comments from examiner

Examination support material

Resources allowed: Open book examination, where all printed and written resources are allowed. There is a digital scientific calculator available in Inspera.

Please note:?You are not allowed to bring your own calculator. We strongly advise you to familiarize yourself with the digital calculator here: https://www.desmos.com/scientific

Language of examination

The examination text is given in English. You may submit your response in Norwegian, Swedish, Danish or English.

Grading scale

Grades are awarded on a scale from A to F, where A is the best grade and F is a fail. Read more about the grading system.

Resit an examination

If you are sick or have another valid reason for not attending the regular exam, we offer a postponed exam later in the same semester.

There are restrictions on resitting this exam. See further information about resitting an exam.

Students who might wish to retake the exam later, are not guaranteed that the course is ever repeated with a similar reading list, nor that the exam arrangement will be the same.

More about examinations at UiO

• Use of sources and citations
• Special exam arrangements due to individual needs
• Withdrawal from an exam
• Illness at exams / postponed exams
• Explanation of grades and appeals
• Resitting an exam
• Cheating/attempted cheating

You will find further guides and resources at the web page on examinations at UiO.