Abstract: The term econometrics is believed to have been crafted by Ragnar Frisch (1895-1973) of Norway, one of the three principle founders of the Econometric Society, first editor of the journal Econometrica, and co-winner of the first Nobel Memorial Prize in Economic Sciences in 1969. Its main object is to promote studies that aim at a unification of the theoretical-quantitative and the empirical-quantitative approach to economic problems.
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This course builds and expands on the knowledge acquired in Econometrics I. As such, it emphasizes both the theoretical and the practical aspects of statistical analysis, focusing on techniques for estimating econometric models of various kinds and for conducting tests of hypotheses of interest to economists. It is designed in such a way so as to help the individual to develop a solid theoretical background in introductory level econometrics, the ability to implement the techniques and to critique empirical studies in economics. 11. Aim of the Course The aim of this course is to provide the basic knowledge of econometrics that is essential equipment for any serious economist or social scientist, to a level where the participant would be competent to continue with the study of the subject in a graduate programme. While the course is ambitious in terms of its coverage of technical topics, equal importance is attached to the development of an intuitive understanding of the material that will allow these skills to be utilised effectively and creatively, and to give participants the foundation for understanding specialized applications through self-study with confidence when needed.
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