Objectives and competences
Students build on their knowledge of modern econometric methods and are able to apply it to practical econometric models using the econometric software EViews. They are able to apply an appropriate econometric approach according to the characteristics of the data analysed and to critically evaluate the results obtained.
Content (Syllabus outline)
Introduction (The Multiple Regression and Ordinary Least Squares Method)
- Limited dependent variables (binary choice models, probit, logit models)
- Time series (stationarity, cointegration, Granger casusality)
- Panel data models (linear panel models, fixed effects model, random effects model)
Learning and teaching methods
- lectures (lecturer will provide students with knowledge of the fundamental theories and techniques);
- guided classes in computer room (practical cases of econometric analysis, monthly assignments discussed);
- teachers' consultations;
- working independently in the computer room (homework using Excel and EViews, working with economic databases);
- independent study of the required literature.
Intended learning outcomes - knowledge and understanding
In this course students:
1. Repeat method of ordinary least squares and its application for multivariate regression models.
2. Systematically enhance their econometric knowledge in other fields of modern econometric methods.(PILO 2a).
3. Gain the ability to apply their theoretical knowledge in advanced practical problems in econometrics. (PILO 1a, PILO 2a)
4. Get the ability to search for and synthesize new information from the field of econometrics in theoretical and empirical literature and praxis and to place them in appropriate professional frame.(PILO 3a)
5. Can select appropriate econometric techniques for complex problem solving and are able to evaluate the reliability, validity and significance of estimated results.(PILO 1a, PILO 2a)
6. Make critical judgements of various econometric models, are able to apply them in practice and present their results. (PILO 3b)
7. Get practical experience in the field of econometrics and become advanced users of econometric software Eviews.(PILO 3a)
8. Are aware of personal ethical and professional responsibility in the field of applied econometrics. (PILO 4a)
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme
Intended learning outcomes - transferable/key skills and other attributes
In this course students:
1. Repeat method of ordinary least squares and its application for multivariate regression models.
2. Systematically enhance their econometric knowledge in other fields of modern econometric methods.(PILO 2a).
3. Gain the ability to apply their theoretical knowledge in advanced practical problems in econometrics. (PILO 1a, PILO 2a)
4. Get the ability to search for and synthesize new information from the field of econometrics in theoretical and empirical literature and praxis and to place them in appropriate professional frame.(PILO 3a)
5. Can select appropriate econometric techniques for complex problem solving and are able to evaluate the reliability, validity and significance of estimated results.(PILO 1a, PILO 2a)
6. Make critical judgements of various econometric models, are able to apply them in practice and present their results. (PILO 3b)
7. Get practical experience in the field of econometrics and become advanced users of econometric software Eviews.(PILO 3a)
8. Are aware of personal ethical and professional responsibility in the field of applied econometrics. (PILO 4a)
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme
Readings
Gujarati, D. (2003 ali 2009). Basic Econometrics – Fourth Edition. McGraw-Hill, New York. (izbrana poglavja).
Gujarati, D. (2015). Econometrics by Example. Second Edition. Palgrave Macmillan (izbrana poglavja)
Pfajfar, L. (2022). Osnovna ekonometrija. Tretja izdaja. Univerza v Mariboru: Ekonomska fakuteta. (izbrana poglavja).
Hill, Griffits, Lin (2018) Principles of Econometrics. Fifth Edition. John Wiley & Son. (izbrana poglavja)
Additional information on implementation and assessment Monthly assignments
Course paper
Final exam
Monthly assignments - Conduct and brief presentation of an original empirical study
Course paper - Individually written course paper with oral defence
Written exam with at least one question from each method covered
