ChemaLopez2002NuvolsNegres

FRANCISCO JOSÉ GOERLICH GISBERT

JOrge belaire FRANCH

DEPARTAMENTO:  Anàlisi Econòmica 

FACULTAT D' ECONOMIA


Licenciatura de Economí­a

Asignatura del curso 2008/ 2009

Chema López. 2002. Núvols Negres. (Patrimoni UV).

 

GENERAL IDENTIFICATION


Subject:  Introductory Econometrics.
Code: 12156
Type:  Compulsory - 1st semester.
Degree: Economics.
Stage:  First. Third year.
Department:  Economic Analysis.
Lecturer:  Francisco J. Goerlich Gisbert
Teacher:  Jorge Belaire Franch

 

INTRODUCTION: know-how required

Welcome to the Introductory Econometrics class in the international group of the Economics degree at the University of Valencia.
The course is designed as an introduction to econometrics from first principles. It puts emphasis on intuition and interpretation of empirical examples, more than on theoretical developments, notwithstanding that some theory is essential to the understanding of the subject. No special prerequisites, beyond college algebra and introductory probability and statistics are necessary to follow the course, in particular we shall not use matrix algebra at all in our introduction to econometrics, but moving beyond an introductory course makes matrix algebra completely essential in studying econometrics. Please check the contents of appendixes A, B and C of the Wooldridge´s Introductory Econometrics textbook (see below) for the necessary background to follow the course. We shall not devote any time to lecture on these matters, so fill in your gaps, if necessary, as soon as possible.
The course is mainly a course on multiple regression under the assumption of random sampling. This general setting should be familiar to you from your introductory statistics course, so this provides a simple and intuitive generalization of the questions of estimating population parameters and testing hypothesis about them, and allow us to distinguish between assumptions made about the underlying population regression model, assumptions that can be given economic or behavioural content, and eventually assumptions about how the data are sampled. In this context all variables are treated as outcomes of random variables, as it should be in non-experimental settings like economics.

What should you expect from us?
You should expect a precise guide of the topics covered in the course, as well as an explanation of the main concepts to be covered in the course. You should not expect all the derivations to be given in lectures and classes. Our role as instructors is to guide you in the process of learning, to show you the path, but walking along that path is your responsibility.

What should we expect from you?
Accordingly, we expect from you a responsible attitude towards the study of the subject, which means a regular reading of the main textbook, an effort in reasoning more than in memorising, the attempt of doing additional problems and computer exercises beyond those solved in classes and an active participation in lectures and classes.
We estimate a minimum of four hours of weekly personal study, shared between theoretical works and solving problems, as a standard burden of the subject. Bear in mind that this is a 6 credit course, and 6 ECTS represent an estimated burden of 150 hours of total work along a semester.