FH Düsseldorf2013-2014

Pablo Agnese

Applied Econometrics for Managers

pablo.agnese@fh-duesseldorf.dewww.pabloagnese.com

(23.32 00.43)

• Unit 1: Introduction

• Unit 2: Regression analysis

• Unit 3: Regression analysis : Further details

• Unit 4: Binary dependent variable

• Unit 5: Time series

Outline

Goals

• Basic concepts in quantitative analysis

• Some technical stuff

• More technical stuff

• We will learn how to use Eviews

• Griffiths, W. Using Eviews: For principles of econometrics, 4th ed., 2011

• Gujarati, D., Basic econometrics, 5th ed. 2008

• Gujarati, D., Econometrics by example, 2011

• Studenmund, A.H., Using econometrics: A practical guide, 5th ed. 2005.

• Wooldridge, J., Introduction to econometrics: A modern approach, 4th ed. 2008

Literature

Grading

• Test (80%)

• Weekly exercises (20%)

• Monitoring: email exchange and/or tutorials

• Eviews

• Unit 1: Introduction

• Unit 2: Regression analysis

• Unit 3: Regression analysis : Further details

• Unit 4: Binary dependent variable

• Unit 5: Time series

1. Introduction1.1 What is econometrics?

• Calculus• Probability• Statistics• Game theory

Scientific method (econometrics):1. Hypotheses or theory2. Mathematical model3. Econometric model4. Data5. Estimation6. Hypothesis testing7. Structural analysis, forecasting, simulations

1. Introduction1.2 Definitions• Population• Sample• Random variable• Distribution function / relative frequency• Parameter• Estimator

1.3 Data• Cross section• Time series• Panel data

1. Introduction

1.4 Variables• Quantitative: discrete or continuous• Qualitative: ordinal or cardinal

1.5 Some widely used measures:• Of centralization: mean (expected value), median, mode…• Of position: quartiles, deciles, percentiles…• Dispersion: rank, variance, standard deviation, CV…• Skewness• Kurtosis