Econometrics 2

Extensions of the multiple regression model are examined. Topics include causal and statistical interpretations of regression models, instrumental variables, panel data and time series regression models and relevant statistical theory.

• 1Explain various problems of interpretation of causal estimates in regression and how the problems may be addressed using instrumental variables;
• 2Apply least squares methods to estimation and inference for linear regression models with panel data;
• 3Apply least squares to estimation, inference and interpretation for single and multiple equation models for stationary and non-stationary time series data;
• 4Derive, simulate and interpret statistical properties of least squares estimators in these settings; and
• 5Formulate hypotheses about economic phenomena, collect real-world data, apply econometric methods to test hypotheses, and draw evidenced-based conclusions or implications for economic theory and/or public policy.