Overview
Description
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.
Units
Lecture3
Catalog Details
Offering
Offered: Every Fall and Spring
Terms
fall, spring
Attributes
Standard
Learning Outcomes
- formulate and interpret econometric models to investigate causal relationships, and explain the conditions under which regression analysis supports causal claims.
- estimate and interpret linear regression models using Ordinary Least Squares (OLS), assess functional form choices, and evaluate how model specification affects estimation validity.
- apply principles of statistical inference in the context of regression analysis, including evaluating the significance and precision of estimated parameters.
- identify, discuss implications of, and provide solutions to common challenges when using observational data to estimate causal effects.
- use STATA to prepare data, estimate models, conduct hypothesis testing, and communicate results.
- 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.