This comprehensive econometrics course provides students with a solid foundation in describing economic data and drawing meaningful inferences from its features. Starting from fundamental axioms of probability, students will gain a deep understanding of calculating probabilities associated with basic events and explore the essential characteristics of random variables—a vital tool for representing complex economic phenomena. Throughout the course, students will learn how to effectively describe discrete and continuous random variables by examining their probability distributions and utilizing summary statistics such as means and standard deviations. Additionally, they will study the relationships between two random variables in terms of covariance, correlation, and simple regression models. The course covers fundamental concepts such as hypothesis testing, confidence intervals, and the principles of statistical inference. These concepts will be applied to analyze the basic features of random variables and to compare the characteristics of more than one random variable. Students will examine issues like fundamental axioms of probability to calculate probabilities for basic events, discrete and continuous random variables through their respective probability distributions, summary statistics, the relationships between two random variables, including covariance, correlation, and simple regression models, hypothesis testing and confidence intervals, statistical inference techniques and so on. Throughout the course, students will engage in practical exercises, data analysis projects, and class discussions to reinforce their understanding and application of econometric techniques. By actively participating in these activities, students will develop their research skills, enhance their ability to critically analyze economic data, and improve their oral and written communication skills in presenting their findings.
