Econometrics

1. Define econometrics and its scope
2. Apply regression analysis techniques
3. Perform correlation analysis
4. Conduct hypothesis testing
5. Interpret ANOVA results
6. Identify and address problems in regression analysis

13 weeks, about 56 hours in total. Yours will differ.

1. Week 1Module 1: Introduction to Econometrics

   • Unit 1: Definition and Scope of Econometrics · 4 hours

     Read the definition and scope of econometrics.. Differentiate between economic theory, mathematical economics, and econometrics.. Attempt the tutor-marked assignment..

2. Week 2Module 1: Introduction to Econometrics

   • Unit 2: Methodology of Econometrics · 4 hours

     Explain the traditional stages of econometric research.. Understand the differences between mathematical and econometric models.. Work through examples of econometric methodology..

3. Week 3Module 1: Introduction to Econometrics

   • Unit 3: Types and importance of Econometrics · 4 hours

     Identify and explain the types of econometrics analysis.. Discuss the importance of econometrics in analysis, policy-making, and forecasting.. Complete the tutor-marked assignment..

4. Week 4Module 2: Regression Analysis

   • Unit 1: Definition and types of Variables · 4 hours

     Understand the meaning of variables in econometrics.. Differentiate between continuous, categorical, dummy, and polychotomous variables.. Relate variables to regression models..

5. Week 5Module 2: Regression Analysis

   • Unit 2: Meaning and types of Regression Analysis · 4 hours

     Explain the meaning of regression analysis.. Understand the types of regression models.. Differentiate between regression and causation..

6. Week 6Module 2: Regression Analysis

   • Unit 3: Non-linear Regression Analysis · 4 hours

     Explain the meaning of non-linear regression analysis.. Distinguish between linearity in variables and parameters.. Identify intrinsically linear and nonlinear regression models..

7. Week 7Module 2: Regression Analysis

   • Unit 4: Data for Regression Analysis · 4 hours

     Identify data sources for estimating regression parameters.. Explain the various types of data required for model estimation.. Differentiate between cross-section, time series, pooled cross-section, and panel data..

8. Week 8Module 3: Parameter Estimates Using Ordinary Least Square (OLS) Method

   • Unit 1: Techniques for Estimating Parameters of Regression Models and Assumptions on Ordinary Least Square (OLS) Estimates · 4 hours

     Identify techniques for estimating parameters of regression models.. Understand the assumptions of ordinary least squares (OLS).. Discuss stochastic assumptions and assumptions concerning independent variables..

9. Week 9Module 3: Parameter Estimates Using Ordinary Least Square (OLS) Method

   • Unit 2: Causes of Deviation of Observation from the fitted line · 4 hours

     Explain the causes of deviation of observation from the fitted regression line.. Understand the problems that can arise in linear regression models.. Review the table summarizing problems in linear regression models..

10. Week 10Module 3: Parameter Estimates Using Ordinary Least Square (OLS) Method

    • Unit 3: The Ordinary Least Squares Method (OLS) · 4 hours

      Apply OLS method to estimate regression parameters.. Use both actual observation and deviation methods.. Interpret parameter estimates..

11. Week 11Module 3: Parameter Estimates Using Ordinary Least Square (OLS) Method

    • Unit 4: Parameter Testing (Hypothesis formulation and Testing) · 4 hours

      Define hypothesis and differentiate between null and alternative hypotheses.. Formulate hypotheses and apply appropriate statistical tools for testing.. Use standard error, t-test, and F-test for hypothesis testing..

12. Week 12Module 4: Correlation Analysis

    • Unit 1: The meaning of Correlation · 4 hours

      Describe correlation and understand its scope.. Differentiate between simple and multiple correlation.. Compute correlation coefficient using Pearson's Product Moment Correlation Coefficient..

    • Unit 2: Types/forms of Correlation · 4 hours

      Describe the types and forms of correlation.. Understand linear, non-linear, and zero correlation.. Use diagrams to explain different types of correlation..

13. Week 13Module 4: Correlation Analysis

    • Unit 5: Limitations of Linear Correlation and Correlation versus Regression · 4 hours

      Understand the limitations of linear correlation.. Compare correlation and regression analyses.. Review the differences between correlation and regression models..