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Lecture 0-Organization session

ECON 4550 Econometrics IMemorial University of Newfoundland

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INTRODUCTION

The prof

The students

The material

The textbooks

The aids

The way to do it right!

The grading

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The Prof

Rober Martinez-EspineiraAka “Rober”

email: rmartinezesp@mun.caAA 3087

E-mail me only from your MUN account!!!

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The Prof

Office hours (posted on-line and on my office door):

MON 4:00-5:00

WED 4:00-5:00

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The students

Names?

Why are you here?

What are you going to do next?

Who took any Stats or Math Econ?

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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

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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

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The materialunderstand 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

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The textbooksMain text:Hill, R. Carter, Griffiths, William E.

and Lim, Guay C. Principles of Econometrics 4th ed. John Wiley & Sons, 2011

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The textbooksOther books you may want to

consult:Kennedy, P. A Guide to Econometrics, Sixth

Edition John Wiley & Sons, 2008

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The aids• course outline and online course

schedule

• PowerPoint presentations online

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The aids

Check your e-mails and website frequently

We will be working little by little but continuously

There will be frequent assignments

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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

The aids

We will also use Microsoft Excel from time to time, so make sure you have it in your computers

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The aids

We will reproduce examples in the book and some additional ones

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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

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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!

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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

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The grading system

Final exam (50%)

Two quizzes (50%): Your worst quiz will be 20% and the best quiz will be 30%

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Questions?

Any questions?

Any suggestions?

Any complaints?

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NEXT

Mathematical Review (see Appendix in Hill et al. 2011)

Look also at Ch. 1 in Hill et al. 2011 and/or Kennedy 2008