Econometrics

The main objective of the Econometrics course is to present the basic concepts of econometrics in an easy-to-understand manner, reducing as much as possible the implications of mathematical statistics, matrix algebra and calculus. The course consists of an introductory part where the econometrics methodology is presented using an illustrative example, then successively, the two-variable and multiple regression models are outlined. The assumptions of the classical regression model are, then, relaxed and the implications are discussed. Simultaneous-equation models are stretched over two lectures, and, finally, the course concludes with a two-lecture introduction in time series econometrics. The emphasis would be on interpreting the results of applying the econometric software tools on modelling different real-world macro and microeconomic problems such as the consumption function, the demand-and-supply model, and other relevant theoretical economics laws. The student is expected to acquire the necessary knowledge based on these concepts and tools to construct, solve and use econometric models to sustain the decision making process at a micro and macroeconomic level.