1. FH Düsseldorf 2011-2012 Pablo Agnese Introduction to Econometrics pablo.agnese@fh-duesseldorf.de www.pabloagnese.com (23.32 00.43)

2. Unit 1: Introduction Unit 2: Regression analysis Unit 3: Regression analysis : Further details Unit 4: Binary dependent variable Unit 5: Time series Outline

3. Goals Basic concepts in quantitative analysis Some technical stuff  More technical stuff   We will learn how to use Eviews

4. Gujarati, D., Basic econometrics, 5 th ed. 2008 Gujarati, D., Essentials of econometrics, 4 th ed. 2009 Gujarati, D., Econometrics by example, 2011 Stundenmund, A.H., Using econometrics: A practical guide, 5 th ed. 2005. Wooldridge, J., Introduction to econometrics: A modern approach, 4 th ed. 2008 Literature

5. Grading Test (80%) Weekly exercises (20%) Monitoring: email exchange and/or tutorials Eviews

6. Unit 1: Introduction Unit 2: Regression analysis Unit 3: Regression analysis : Further details Unit 4: Binary dependent variable Unit 5: Time series

7. 1. Introduction 1.1 What is econometrics? Calculus Probability Statistics Game theory Scientific method (econometrics): 1.Hypotheses or theory 2.Mathematical model 3.Econometric model 4.Data 5.Estimation 6.Hypothesis testing 7.Structural analysis, forecasting, simulations

8. 1. Introduction 1.2 Definitions Population Sample Random variable Distribution function / relative frequency Parameter Estimator 1.3 Data Cross section Time series Panel data

9. 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