Level of Study
Objectives and Content
The main goal of this course is to introduce the students to econometrics and give necessary tools to conduct empirical research.
Econometrics use statistical methods to answer economic questions.
The main topic of this course will be linear regression models. A special focus will be given on explaining that available data is usually not experimental and what consequences this has on the empirical model. Both theoretical and practical examples will be part of the course. The course will also give an introduction to an econometric programming package.
A candidate who has completed his or her qualification should have the following learning outcomes defined in terms of knowledge, skills and general competence:
- Ability to perform analyses of economic data based on a broad knowledge of the linear regression model
- An understanding of the causality concept in an empirical context
- Basic knowledge of the statistical foundations of regression analysis with OLS
- Knowledge of hypothesis testing
- Basic knowledge of how to detect and treat violations of OLS assumptions, such as omitted variables, heteroscedasticity, and serial correlation
- Basic knowledge of the IV/2SLS method and time series methods
- Basic use of the statistical computer software Stata for empirical analysis
- Estimation and testing with OLS
- Reporting and interpreting regression results
- Ability to read and critically discuss empirical papers
- Ability to perform own empirical analyses in a master¿s thesis
Teaching and learning methods
Lectures and seminars
Compulsory Assignments and Attendance
Compulsory assignments that are not accepted on the first try, may be handed in a second time. To be able to get this opportunity, the student must have made a sincere effort the first time around; that is, the student must have tried to answer most of the assignment.
Approved compulsory requirements do not have time limits.
Forms of Assessment
Written exam (4 hours)
Update fall 2020: As part of the measures to limit the risk of corona infection the form of assessment will be an 5 houres home exam instead of 4 houres written exam
Examination Support Material
Mathematical Formula Collection of K Sydsæter, A. Strøm and P. Berck or Mathematical Formulas for Economists of B Luderer, V. Nollau and K. Vetters and calculator. The following simple, non-programmable calculators without graphical display are allowed to be used for written tests:
All models of the type:
- Casio FX-82, Casio FX-82ES PLUS or Casio FX-82EX
- Hewlett-Packard HP30
- Texas Instruments TI-30
The Department of Economics can conduct a sample of aids in the examination room.
Assessment in teaching semester. New exam the following semester only for students who have a valid document of absence.
All courses are evaluated according to UiB's system for quality assurance of education.
Department of Economics