Learning objectives

Econometrics is the application of statistics and mathematics to economic and business data. In today’s world data are largely available and econometric techniques are crucially important to conducting reliable data analyses in private and public institutions. This course introduces students to regression methods for cross-sectional, time series, and panel data in order to analyze data in business and economics. After presenting the basic theoretical features of each method, the module will offer students the opportunity to practically implement estimation and hypothesis testing techniques in various empirical contexts. The main goal of the course is to provide students with a solid background in econometrics, to stimulate their abilities to apply such techniques on diverse datasets, and to enable them to critically analyze empirical studies in economics, business, and finance.

Prerequisites and basic notions

A basic knowledge of mathematics and statistics is recommended.

Program

The course begins with an introduction to econometrics and the use of R for data analysis. It then explores the Ordinary Least Squares (OLS) method, combining lectures and practical exercises. The program continues with causal inference methods, including matching techniques and instrumental variables (IV), reinforced by exercises and class discussions. Panel data methods are then introduced, followed by the study of regression discontinuity design and selected empirical applications. In the second part of the course, students will individually or in groups present empirical research articles related to the methods studied. The program concludes with a mock exam and a final question-and-answer session to consolidate understanding and prepare for the final exam.

Bibliography

Didactic methods

Classroom teaching. The lectures include real-world examples developed interactively using the free R data management software, as well as discussions of research articles related to the econometric methods covered in class.

Learning assessment procedures

The overall assessment consists of a written exam and an in-class presentation. An oral exam may be required if necessary. The written exam lasts one hour and thirty minutes and covers the entire course syllabus. The use of a calculator is permitted, but personal notes or other teaching materials are not permitted. The in-class presentation involves reading and understanding empirical research articles that apply the econometric methods studied in class. Presentations should focus on explaining the methodology used in the article, assessing its robustness, and interpreting the results. Presentations may be prepared individually or in groups. Each presentation will be followed by questions from the instructors. Presentations will take place in the second half of the course, and the grade will be valid for the entire academic year. Students with disabilities or Specific Learning Disabilities (SLD) who wish to request accommodations for the exam should follow the instructions on the university website.

Evaluation criteria

The written exam assesses students' overall understanding of fundamental econometric concepts, as well as their ability to construct and interpret tables containing econometric outputs. The in-class presentation is designed to assess students' ability to understand empirical research conducted by others and to provide critical evaluations and comments. The final grade is the average of the exam and presentation scores, with a weight of 70% and 30%, respectively. To pass the exam, a grade of at least 18/30 is required in the written test. Students have the option to decline the exam grade.

Criteria for the composition of the final grade

The overall assessment consists of a written exam and a class presentation.

Exam language

English

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