Econometrics_Slide01.pdf

Introductory Econometrics ECON2206/ECON3209 S2, 2009 Slides01 Lecturer: Minxian Yang ie_Slides01 my, School of Economics, UNSW 1 ie_Slides01 my, School of Economics, UNSW 2 About the Course ? Staff – Lecturer: Minxian Yang – Tutors: Amani Elnasri and Agne Suziedelyte ? Required textbook – Wooldridge, J.M. (2009), Introductory Econometrics: A Modern Approach, 4th Edition, South-Western ? Assessment – Two tutorial assignments (weeks 5 12): 20% – One course project (week 8): 20% – Final exam: 60% ? Submit assignments and project to your tutor! ie_Slides01 my, School of Economics, UNSW 3 About the Course ? Econometric software – SHAZAM recommended – Available in ASB labs and online, or buy it for $10. ? Course materials – Course website: announcements, course outline, lecture slides, tutorial questions/answers, assignments, project data sets, Shazam code, … – Library (open reserve) ? Read Course Outline carefully! ie_Slides01 my, School of Economics, UNSW 4 About the Course ? Aim Summary of ECON2206/3290 – Aim to help students develop a working knowledge of econometrics and its applications. – Focus on linear regression models, their estimation, inference and interpretation. – Emphasise the applications of econometric methods in practice. – Foster the ability to conduct empirical research in economics, finance and other social sciences. ie_Slides01 my, School of Economics, UNSW 5 1. Introduction (Ch1) 1. Introduction ? What is econometrics? – It covers the statistical methods useful for ? estimating economic relationships; ? testing economic theories; ? evaluating policies; ? forecasting economic variables, based on data (observations on variables). eg. Estimating and testing the effect of – education on wages; – minimum wages on unemployment; – govt policies on inflation and growth; – school spending on student performance; etc. ie_Slides01 my, School of Economics, UNSW 6 1. Introduction (Ch1) ? What is econometrics? – Differing from statistics used in physi