IEF 304 Econometrics

This course provides students with a solid foundation in econometrics, focusing on the description of economic data and drawing meaningful inferences from its patterns and features. Beginning with the fundamental axioms of probability, students learn how to calculate probabilities for basic events and study the essential characteristics of random variables—key tools for modeling complex economic phenomena. Students examine both discrete and continuous random variables through their probability distributions and summary statistics, including means, variances, and standard deviations. The course also explores relationships between variables, covering covariance, correlation, and simple regression models. Core statistical concepts—such as hypothesis testing, confidence intervals, and statistical inference—are introduced and applied to analyze the properties of individual random variables as well as comparisons across multiple variables. Through practical exercises, data analysis assignments, group projects, and class discussions, students apply econometric techniques to real economic data. The experiential approach strengthens research skills, critical analysis, and communication ability, preparing students for further work in economics, finance, and data-driven analysis.