Undergraduate Economics

Learning objectives:
Students learn to quantify and verify economic behavioral equations using statistical
methods and observational data. They learn to describe and apply the basic methods of
regression analysis including testing parameters. Through a trained understanding of
econometric models, they can also identify the effects of deviating or violating models on
estimates and regression parameter tests and develop appropriate strategic solutions. By
including a practical computational exercise, students learn to perform regression analyses
by themselves and interpret the results appropriately. Another important objective is to use
student diversity as a resource and make a conscious effort to include it in the students’
daily life.

Contents:
Fundamental methods of econometrics, for example: The classical linear regression model,
parameter estimation with the least squares method, confidence ranges and parameter
tests, modeling structural breaks and season, heteroscedasticity, and autocorrelation of
residuals.