Angewandte Ökonometrie I

Course description:

This course is an introduction to applied econometrics. The course looks at the principles of econometrics, especially regression analyses and the application of econometric methods to concrete economic questions. The course builds upon introductory courses in mathematics and statistics. The course focus is a general understanding of the methods of regression analyses and the interpretation of findings. In class, students become familiar with the Stata software package and discuss econometric applications using real data.

Structure:

1. Econometrics and economic data
2. The simple regression model
3. The multiple regression analysis: estimating
4. Multiple regression analysis: inferencing
5. Multiple regression analysis: OLS asymptotics
6. Multiple regression analysis: more questions
7. Multiple regression analysis with qualitative information: binary variables

Course type:

• The lecture takes place in person.
• The practical course groups also take place in person.
• The lecture is in German. The lecture transcript and the literature are in English.
• There are English and German practical groups.

Material:

Course material (lecture slides, exercises, solutions, data sets) will be provided online via OpenOlat.

Tests:

Every 2–3 weeks throughout the lecture period, there will be online tests at www.mcempirics.com. By doing these tests, students can improve their final grade if they pass the final examination. Taking part in the online tests can only improve, not harm, your grades. The tests are open-book tests. See https://www.instagram.com/mcempirics/ for more information and regular updates on mcEmpirics.

Improving examination grade using McEmpirics tests:

• Every test lasts 30 minutes; must be completed within given time frame.

• Tests are based on the respective chapter of the Wooldridge and all previous chapters.

• How to improve your final grade if you pass the tests:

•  If students have answered at least 65% of the questions correctly, their final grade will improve by 0.3/0.4 points providing they have passed their written examination with a grade of 4.0 or better.

• There are 6 tests.

• The first test is a trial test and does not contribute to an improved grade.

• For the 5 remaining tests, we take the average value of the 4 best tests.

• The possibility for improvement applies for both examination dates, but only in Winter Semester 2022/23.