Introduction to Econometrics
- Social Sciences
- 300 level
- 3 credit units
- 168 pages
- 19 units
This course is an introductory course on Econometrics. It covers topics including econometrics analysis, single-equation (regression models), Normal linear regression model, and practical aspects of statistics testing. The course aims to provide an in-depth understanding of econometrics, familiarize students with regression models, stimulate knowledge on linear regression, and expose students to rudimentary analysis of simple and multiple regression analysis.
About this course
- Difficulty
- Intermediate
- Study hours
- 200 hours
- Maths
- Intermediate
- Content
- Theoretical, practical, problem solving
- Practical work
- No
- Introductory Statistics
- Basic Economics
- Calculus
- Assignments
- Tutor marked assessments
- Final examination
What you'll read
The real module and unit structure of ECO355, taken from the course material NOUN publishes.
- Unit One: Regression AnalysisPage 55
- UNIT 2 THE ORDINARY LEAST SQUARE (OLS) METHOD OF ESTIMATIONPage 65
- UNIT 3: CALCULATION OF PARAMETER AND THE ASSUMPTION OF CLRMPage 71
- UNIT 4 PROPERTIES OF THE ORDINARY LEAST SQUARE ESTIMATORSPage 76
- UNIT 5: THE COEFFICIENT OF DETERMINATION : A MEASURE OF “GOODNESS OF FIT”.Page 84
One paragraph, so you can see how it reads
ECO355 · Unit One: Meaning of Econometrics
You should use these objectives to guide your study. When you have finished the unit you must go back and check whether you have achieved the objectives. If you make a habit of doing this you will significantly improve your chances of passing the course and getting the best grade.
What you should be able to do
- Understand the fundamentals of econometrics
- Apply regression models to economic data
- Perform hypothesis testing
- Interpret statistical results
- Differentiate between econometrics and statistics
What it prepares you for
- Econometrician
- Data Analyst
- Financial Analyst
- Economic Modeler
- Statistician
- Finance
- Economics
- Government
- Consulting
- Research
- SPSS
- EViews
- SAS
- STATA
Where it gets hard
The units students slow down on, and what makes each one heavy.
- MODULE TWO SINGLE- EQUATION (REGRESSION MODELS)
Unit Three: Calculation of Parameter and the Assumption of Classical Least Regression Method (CLRM)
Calculation of parameters requires a strong understanding of calculus and linear algebra.
- MODULE THREE NORMAL LINEAR REGRESSION MODEL (CNLRM)
Unit Two: OLS Estimators Under The Normality Assumption
Requires a deep understanding of statistical distributions and their properties.
A suggested way through it
13 weeks, about 100 hours in total. Yours will differ.
- Week 1MODULE ONE ECONOMETRICS ANALYSIS
Unit 1: Meaning Of Econometrics · 4 hours
Define econometrics. Explain the difference between econometrics and statistics. Discuss the role of econometrics in economic analysis.
Unit 2: Methodology of Econometrics · 4 hours
Describe the steps involved in econometrics methodology. Explain the use of mathematical and statistical analysis in solving economic problems.
- Week 2MODULE ONE ECONOMETRICS ANALYSIS
Unit 3: Computer and Econometrics · 4 hours
Discuss the role of computers in economic analysis and forecasting. Identify and explain different types of econometrics analysis.
Unit 4: Basic Econometrics Models: Linear Regression · 4 hours
Understand basic econometrics models. Differentiate between econometrics theory and methods.
- Week 3MODULE ONE ECONOMETRICS ANALYSIS
Unit 5: Importance of Econometrics · 4 hours
Explain the importance of econometrics within economics. Describe how to use econometrics for assessing economic models.
- Week 4MODULE TWO SINGLE- EQUATION (REGRESSION MODELS)
Unit One: Regression Analysis · 4 hours
Examine the linear regression model. Understand the classical linear regression model.
Unit Two: The Ordinary Least Square (OLS) Method Estimation · 4 hours
Differentiate between dependent and independent variables. Understand the Ordinary Least Square (OLS) Method Estimation.
- Week 5MODULE TWO SINGLE- EQUATION (REGRESSION MODELS)
Unit Three: Calculation of Parameter and the Assumption of Classical Least Regression Method (CLRM) · 8 hours
Calculate parameters and understand the assumptions of the Classical Least Regression Method (CLRM).
- Week 6MODULE TWO SINGLE- EQUATION (REGRESSION MODELS)
Unit Four: Properties of the Ordinary Least Square Estimators · 8 hours
Know the properties that our estimators should have. Understand the proofing of the OLS estimators as the best linear unbiased estimators (BLUE).
- Week 7MODULE TWO SINGLE- EQUATION (REGRESSION MODELS)
Unit Five: The Coefficient of Determination (R2 ): A measure of ―Goodness of fit‖ · 8 hours
Examine the Goodness fit. Understand and work through the calculation of coefficient of multiple determination.
- Week 8MODULE THREE NORMAL LINEAR REGRESSION MODEL (CNLRM)
Unit One: Classical Normal Linear Regression Model · 8 hours
Identify and know how to calculate the probability normality assumption for Ui. Understand the normality assumption for Ui.
- Week 9MODULE THREE NORMAL LINEAR REGRESSION MODEL (CNLRM)
Unit Two: OLS Estimators Under The Normality Assumption · 8 hours
Understand why we have to conduct the normality assumption. Identify the properties of OLS estimators under the normality assumption.
- Week 10MODULE THREE NORMAL LINEAR REGRESSION MODEL (CNLRM)
Unit Three: The Method Of Maximum Likelihood (ML) · 8 hours
Understand what is probability distribution. Understand the meaning of Maximum Likelihood Estimation of two variable regression Model.
- Week 11MODULE THREE NORMAL LINEAR REGRESSION MODEL (CNLRM)
Unit Four: Confidence intervals for Regression Coefficients · 8 hours
Understand the meaning of Hypothesis. Know how to calculate hypothesis using confidence interval analyse and interpret hypothesis result.
- Week 12MODULE THREE NORMAL LINEAR REGRESSION MODEL (CNLRM)
Unit Five: Hypothesis Testing · 8 hours
Understand the meaning of accepting and rejecting an hypothesis identify a null and alternative hypothesis. Understand the meaning of Level of significance.
- Week 13MODULE FOUR PRACTICAL ASPECTS OF ECONOMETRICS TEST
Unit Three: Regression Analysis and Analysis of Variance · 4 hours
Understand the meaning of regression analysis and variance. Know how to calculate the regression analysis and analysis of variance.
Unit Four: Normality tests · 4 hours
Understand Normality tests.
Preparing for the exam
- Review all units and focus on key concepts
- Practice solving econometrics problems
- Understand the assumptions of different models
- Study statistical tables and distributions
- Practice hypothesis testing and interpreting results
Questions students ask about this course
What is ECO355 about?
This course is an introductory course on Econometrics. It covers topics including econometrics analysis, single-equation (regression models), Normal linear regression model, and practical aspects of statistics testing. The course aims to provide an in-depth understanding of econometrics, familiarize students with regression models, stimulate knowledge on linear regression, and expose students to rudimentary analysis of simple and multiple regression analysis.
How many units does ECO355 have?
ECO355, Introduction to Econometrics, has 19 units across 4 modules, over 168 pages of course material. You can read it one unit at a time.
How many credit units is ECO355?
ECO355 carries 3 credit units, at 300 level in Social Sciences.
Is ECO355 hard?
ECO355 is rated intermediate level, with intermediate mathematical content. It is mostly theoretical, practical and problem solving work.
How long does ECO355 take to study?
About 200 hours of study, spread across its 19 units.
How is ECO355 assessed?
ECO355 is assessed by assignments, tutor marked assessments and final examination.
What do I need before starting ECO355?
Introductory Statistics Basic Economics Calculus
What can I do with ECO355?
Econometrician, Data Analyst, Financial Analyst, Economic Modeler and Statistician.