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Econometrics Lecture 0: Introduction and Organization Session

This lecture introduces the professor, the course material, textbooks, aids, and the grading system. It also emphasizes the importance of self-motivated learning and problem-solving in econometrics.

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Econometrics Lecture 0: Introduction and Organization Session

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  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 1:00-2:00 TUE 2:30-3:30 WED 1:00-2:00 THU 2:30-3:30 FRI 1:00-2:00  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 • Home assignments 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 to work with empirical data. • You should download GRETL for free from the internet 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 have labs on Fridays starting around the third week of term • 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 • Doing the home assignments 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 (40%) • Two quizzes (30%): Your worst quiz will be 10% and the best quiz will be 20% • Home assignments (30%) Lecture 0

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

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

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