Hilmer & Hilmer Practical Econometrics bridges the gap between theoretical and practical knowledge of introductory econometrics. The intuition underlying each individual econometric tool is explained, both verbally and visually whenever possible, before introducing the technical details required to actually implement the tool. Particular attention is paid to developing correct interpretation skills and the how-to's associated with effectively communicating the quality of one's work. The goal is to provide readers with not only the desire, but also the practical know-how to correctly utilize the econometric tools introduced and thereby increase the true power of the introductory econometrics course. Both Microsoft Excel and Stata software packages provide data examples throughout the text.
Econometrics is a sub-discipline of economics and statisticsthat provides methods for inferring economic structure from data.This course has two goals. The first goal is to give students themeans to evaluate an econometric analysis critically and logically.The second goal is to give students theh skills to analyze a dataset methodically and comprehensively using the tools ofeconometrics. Students will be introduced to simple and multipleregression methods for analyzing data in economics and relateddisciplines. Extensions will include regression with discreterandom variables, analysis of qualitative questions, interactionterms and binary choice models. The course will also explore theuse of time series analysis as a forecasting technique.
The course will be delivered via a combination of lectures andproblem-solving, requiring students to apply advanced statisticalmodels and techniques (econometrics) to business andeconomics-related problems. Computer-based statistical tools (Exceland STATA) are utilized in tackling problem solving.
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