4 hours. 3 hours lecture and 2 hours lab per week.
Applied Econometrics
Course Description
Students will learn basic econometric techniques, including linear and simple nonlinear regression analysis, hypothesis testing, model selection, and causal inferencing. Applications are an integral part of the course, with students using statistical packages to address agricultural and environmental economic and policy questions. Learning outcomes are assessed through exams and projects.
Athena Title
Applied Econometrics
Equivalent Courses
Not open to students with credit in AAEC 3610
Prerequisite
STAT 2000 or STAT 2100H
Pre or Corequisite
AAEC 3580-3580L or ECON 4010
Semester Course Offered
Offered spring
Grading System
A - F (Traditional)
Student learning Outcomes
Students will explain the intuition and analytical structure of fundamental statistical and econometric principles used to examine relationships among social, economic, and environmental factors.
Students will develop, estimate, and interpret regression models to measure associations and evaluate potential causal relationships in socioeconomic data.
Students will collaboratively evaluate a real-world economic and policy issue related to agriculture, environment, education, labor, or consumer by applying economic reasoning and econometric methods.
Topical Outline
Review of statistics
Testing the difference in group means
Linear regression with one regressor
Least squares estimation
Hypothesis testing
Confidence interval
Omitted variable bias
Multiple regression
F test and heteroscedasticity
Dummy variables
Logarithmic transformation of the regress and regressors
Polynomial regressions
Regression with interaction terms
Control variable and conditional mean independence
