Econometrics: Theory and Practice

This course provides an introduction to econometrics, focusing on its scope, foundational concepts, and practical applications in analyzing economic relationships. Learners will begin by exploring the distinctions between economic models and econometric models, gaining an understanding of how theory and data intersect in empirical research. The course introduces regression analysis, starting with simple linear regression involving one dependent and one independent variable, enabling students to examine the nature and strength of relationships between economic variables. In addition to core econometric principles, learners will review essential statistical concepts such as individual, conditional, and joint probability distributions, as well as the concept of variable independence. These concepts form the basis for understanding how data behaves and how relationships among variables can be rigorously examined. A major focus will be on the general structure and assumptions of the linear regression model, which serves as a cornerstone in empirical economic analysis. Students will learn how to interpret coefficients, test hypotheses, and understand the conditions under which regression results are valid and meaningful

• Develop skills to analyze policies and stakeholder interests
• Understand and apply econometric principles in empirical research
• Interpret regression coefficients and test statistical hypotheses
• Recognize conditions for valid regression results and probability distributions

• Basic computer and internet skills
• Ability to follow course instructions and complete exercises