Estimating statistical regression models of economic relationships; treatment of special problems that may arise in analysis of economic data.
Upon completion of the course, the student should:
- understand the nature and scope of economics as a social science.
- use statistical analysis, including the classical regression model, to estimate relevant economic parameters, predict economic outcomes, and test economic hypotheses using quantitative data.
- understand the basic assumptions of the classical linear regression model, and identify and correct (if possible) any violations of these assumptions, such as autocorrelation and heteroscedasticity.
- develop and maintain a working knowledge of econometrics that will provide a basic foundation for future study in econometrics and statistical techniques.
This course will utilize Gretl, a free and user-friendly econometric software, for graphics, data management, basic statistics, and econometric estimation.
This course is approved for Validation by Education Experience (VEE) by the Society of Actuaries (SOA).
This course has online exams that require a proctor. Online proctoring is available through ProctorU. For traditional site-based proctoring, a Proctor Agreement Form will be required.
This course can be applied towards:
Prerequisite
ECON 204 (Principles of Macroeconomics); MATH 141 (Calculus in Management Sciences) or MATH 155 (Calculus for Biological Sciences I) or MATH 160 (Calculus for Physical Sciences I); STAT 201 (General Statistics) or STAT 204 (Statistics for Business Students) or STAT 301 (Introduction to Statistical Methods) or STAT 307 (Introduction to Biostatistics). Credit not allowed for both ECON 335 and AREC 335.
Important Information
Prerequisites: Introductory microeconomics, introductory macroeconomics, introductory calculus, introductory statistics.
Textbook and Materials
Textbooks and materials can be purchased at the CSU Bookstore unless otherwise indicated.
Required
- Essentials of Econometrics, 4th Ed. (2010)
Gujarati, Damodar
ISBN: 978-0073375847
Instructors
Ardyanto Fitrady
fitrady@lamar.colostate.edu
Arfie is a third year Ph.D. student in economics at CSU and a Fulbright scholar from Indonesia. He started his career in 2004 as a lecturer at Gadjah Mada University in Indonesia and as a researcher in the Center for Economic and Public Policy Studies. He did some research collaborations with The World Bank, JICA, Indonesian central government, and some local governments where he learned many things about economics and econometrics in practice. His favorite courses are statistics, econometrics, and urban economics. Arfie’s research focus is in urban economics with a particular emphasis on welfare analysis. When he is not studying economics, Arfie spends his time with his family: a wife and two little boys. He is also a music enthusiast—from Charlie Parker to Dream Theater.