Introduction to Econometrics

What economic, social and political questions can we answer using data? What can we know using simple trends and summary statistics? It turns out, quite a lot!

Econometrics is the science and art of using statistics to make sense of data in order to enable an empirically driven understanding of economic phenomena, and for evidence-based policy making. This course will introduce students to the basics of this fascinating subject and will cover the following topics: a) estimation, which is the use of information contained in a sample to make best guesses about key population parameters, b) hypothesis testing, which involves using new information to scientifically update one’s beliefs, and c) regressions, the workhorse of econometrics, which essentially is the function that best fits the data and summarises the complex relationship between two or more variables.