Masters - all
MEF - elective
Semester - winter
|Course supervisors:|| PhDr. Jiří Kukačka Ph.D.
|Literature:||Core textbooks (selected chapters):
Studenmund, A. H. (2016). Using Econometrics: A Practical Guide. Pearson Education, 7th Edition, pdf
(e-book 7th Global Ed. from 2017 or 6th International Ed. from 2014 also possible).
Wooldridge, J. M. (2016). Introductory Econometrics: A Modern Approach. Cengage, 6th Edition, pdf
(5th Ed. from 2012 or 7th Ed. from 2018 also possible).
|Description:||The course is primarily intended for students of the MEF and IEPS programs and students of exchange programs (Erasmus+). It is not designed for students of the local Master program.
The objective of the course is to establish, revise, and systematize students' econometrics knowledge. First, we will recapitulate the essentials of statistics, and afterward, we will mainly focus on the practical applications of econometric techniques. For most of the semester, we will be discussing the linear regression model and its Ordinary Least Squares (OLS) estimation, a simple yet powerful method in every economist's toolbox. During the course, we will together go through the basics of econometrics: from the statistical background through the theory and intuition behind the OLS estimation; properties of OLS; hypotheses testing; the linear regression model assumptions, their potential violations, and proper remedies; to some advanced topics such as the issue of endogeneity or logistic regression. For a good understanding of the limitations of the regression analysis, we will repeatedly discuss the issue of causality. Each topic will be backed up with an applied example and practiced during seminars.