Lecture 0- Organization session

1. ECON 4550 Econometrics I Memorial University of Newfoundland • Lecture 0-Organization session Lecture 0

2. INTRODUCTION • The prof • The students • The material • The textbooks • The aids • The way to do it right! • The grading Lecture 0

3. The Prof • Rober Martinez-Espineira • Aka “Rober” • email: rmartinezesp@mun.ca • AA 3087 • E-mail me only from your MUN account!!! Lecture 0

4. The Prof • Office hours (posted on-line and on my office door): • MON 4:00-5:00 • WED 4:00-5:00 Lecture 0

5. The students • Names? • Why are you here? • What are you going to do next? • Who took any Stats or Math Econ? Lecture 0

6. The material • To enhance your analytical and intellectual skills through the study of Econometrics • To provide you with a basic knowledge of Econometrics • To equip you with the skills needed to conduct and interpret basic ordinary least squares regression analysis Lecture 0

7. The material • To develop your capacity for self-motivated learning and problem solving through the application of theoretical approaches to real world.-like problems • To equip you for further study in Economics and/or employment in related fields Lecture 0

8. The material • understand the basic theory of econometric estimation and inference at a level sufficient to support basic empirical research • apply ordinary least squares regressions, interpret, and present the resulting econometric output obtained using computer software on real data • interpret the results of applying basic econometric models in the literature Lecture 0

9. The textbooks • Main text: • Hill, R. Carter, Griffiths, William E. and Lim, Guay C. Principles of Econometrics 4th ed. John Wiley & Sons, 2011 Lecture 0

10. The textbooks • Other books you may want to consult: • Kennedy, P. A Guide to Econometrics, Sixth Edition John Wiley & Sons, 2008 Lecture 0

11. The aids • course outline and online course schedule • PowerPoint presentations online Lecture 0

12. The aids • Check your e-mails and website frequently • We will be working little by little but continuously • There will be frequent assignments Lecture 0

13. The aids • We will use GRETL and occasionally SHAZAM or STATA to work with empirical data • You should download GRETL for free from the internet • STATA is available at the QEII Lecture 0

14. The aids • We will also use Microsoft Excel from time to time, so make sure you have it in your computers Lecture 0

15. The aids • We will reproduce examples in the book and some additional ones Lecture 0

16. The way to get it right • Reading the chapters before coming to class • Taking useful notes in class or annotating over the printouts from my website • Going back to the book and the exercises after the class • Coming to see me to solve doubts Lecture 0

17. The way to get it right • There is no way to pass this on swoting • Trying to catch up on the last two weeks is not going to work • The way to understanding the material is by doing the stuff as we learn it • Ask me if you need help! Lecture 0

18. The way to get it right • Brush up your Math! • We will not be using a lot of Math, but a little reviewing will help! • We will start with a review of some basic Math • Use the Math appendices in the books too Lecture 0

19. The grading system • Final exam (50%) • Two quizzes (50%): Your worst quiz will be 20% and the best quiz will be 30% Lecture 0

20. Questions? • Any questions? • Any suggestions? • Any complaints? Lecture 0

21. NEXT • Mathematical Review (see Appendix in Hill et al. 2011) • Look also at Ch. 1 in Hill et al. 2011 and/or Kennedy 2008 Lecture 0