Introduction to Empirical Economic Research

 

Course Content

In the Bachelor's program we provide an introductory course Empirical Research in Economics. The students learn statistical foundations of econometrics and how to estimate linear regression models (least square, hypothesis test), even beyond the OLS-estimator (misspecification, endogeneity, heteroskedasticity, instrumental variables). The course also includes how to deal with real world data.

Using empirical methods the students learn how to understand and evaluate economical questions related with real world data, as well as how to develop the ability to read and critically evaluate empirical surveys.

If you would like to take a course from a foreign stay as an equivalent to the introduction to the empirical economic research course, courses in Introduction in Econometrics, which are based on the textbook by Stock and Watson, Wooldridge or a similar book, and a comparable topic selection are suitable (see information in the Syllabus).

Content

• Introduction

• Part I: Repetition probability theory

- statements about a random variable (univariate statistics)

- Contexts between two random variables (multivariate statistics)

• Part II: The linear model

- The simple linear model

- The multivariate linear model

- Introduction to hypothesis tests

- hypothesis tests for the OLS estimator

- Model specification

• Part III: Extensions of the linear model

- Quality criteria for estimators

- Heteroscedasticity and cross-sectional data

- Injury of exogenity

- instrument variables and the IV estimator

- Autocorrelation and time series data