Objectives and competences
In this course students:
1. Systematically enhance their theoretical knowledge in the field of business statistics with econometrics and are able to apply it.
2. Gain the ability to apply their theoretical knowledge in complex practical problems in the field of econometrics.
3. Acquire econometric approach to analysis of economic and financial questions and are able to critically evaluate it.
4. Make critical judgements based on a sound theoretical base.
Content (Syllabus outline)
-Introduction (Introduction to Econometrics, Statistics Review);
-The Multiple Regression Model (Introduction, Estimating the Parameters, Properties, Hypothesis Testing, Goodness of Fit, linear transformations, forecasting);
-Violations of Assumptions (Model Specification, Multicollinearity, Heteroskedasticity, Serial Correlation);
-Additional Topics (Dummy variables, Lagged variables, Simultaneous systems).
Learning and teaching methods
- lectures (lecturer will provide students with knowledge of the fundamental theories and techniques);
- guided classes in computer room (sample modeling is done and the main problems of home assignments are discussed);
- teachers' consultations;
- self study in computer room, in particular with the Internet (making home assignments using Excel and EViews, work with economic data bases, study guides on the Internet, looking through sets of slides in Econometrics);
- self study with literature
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding:
Students:
1. Acquire comprehensive knowledge in the area of econometric specialization.
2. Have a detailed knowledge of theories in the area of econometric specialization.
3. Are able to explain interconnections in the field of econometrics.
4. Develop skills to review the gained results in the field of econometrics.
5. Learn how to analyse and synthesise different approaches in the field of econometrics with changing conditions.
6. Are able to upgrade and design further analysis regarding econometrics.
7. Are aware of personal and professional responsibility in the field of econometrics.
8. Are able to demonstrate a critical ethical dimension in their work.
Intended learning outcomes - transferable/key skills and other attributes
Cognitive/Intellectual skills:
Students:
1. Understand and apply critical analysis and theory development and their usability in solving real and abstract professional problems, without guidance.
2. Get the ability to search for and synthesize new information from the field of econometrics in literature and praxis and to place them in appropriate professional frame.
3. Can select appropriate econometric techniques for complex problem solving and are able to evaluate the reliability, validity and significance of results gained.
4. Can identify key aspects of problem from different view points and are able to find solutions.
5. Can investigate contradictory information and reasons for this.
Key/Transferable skills
Students:
1. Further develop skills and expertise in the use of knowledge in a specific working area.
2. Upgrade the ability to become an autonomous learner.
3. Upgrade the ability to apply information technology.
4. Upgrade the ability for team-work and team leadership.
5. Further develop their communication skills in an effective manner to effectively solve conflicts.
6. Can identify key aspects of problem from different view points and are able to find solutions.
7. Are efficient in self-evaluation.
8. Can select and manage information with minimal guidelines.
Practical skills:
Student:
1. Get practical experience in the field of econometrics.
2. Is able to act autonomously with minimal guidelines and supervision.
Readings
L. Pfajfar (2014 ali 2018 ali 2022).Osnovna ekonometrija. Ljubjana: Ekonomska fakulteta.
M, Verbič idr (2014 ali 2017). Ekonometrični obrazci in postopki. Ljubljana: Ekonomska fakulteta.
Prerequisits
Prerequisits for attending the written exam are successfully completed courses in Mathematics, and Statistics.
Additional information on implementation and assessment - written examination 50%
- seminar work with oral defence 50%
A positively evaluated seminar work with the oral defence is a precondition for undertaking the written exam.
Both assessment methods have to be positively evaluated in order to get a positive grade.
