ECON 641 - Introduction to Econometrics

(3 units)

Application of statistical techniques for the purpose of testing and explaining economic relationships; integration of economic theory, with observed economic phenomena. Useful for economic and business forecasting.

Maximum units a student may earn: 3

Grading Basis: Graded
Units of Lecture: 3
Offered: Every Fall and Spring

Student Learning Outcomes
Upon completion of this course, students will be able to:
1. formulate and interpret econometric models to investigate causal relationships, and explain the conditions under which regression analysis supports causal claims.
2. estimate and interpret linear regression models using Ordinary Least Squares (OLS), assess functional form choices, and evaluate how model specification affects estimation validity.
3. apply principles of statistical inference in the context of regression analysis, including evaluating the significance and precision of estimated parameters.
4. identify, discuss implications of, and provide solutions to common challenges when using observational data to estimate causal effects.
5. use STATA to prepare data, estimate models, conduct hypothesis testing, and communicate results.
6. read a journal article and (1) determine the policy-relevant question of interest, (2) discuss the model and identification strategy used in the study, and (3) interpret empirical results.

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