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Information
| Code | ECMZ401 |
| Name | Econometrics III |
| Term | 2022-2023 Academic Year |
| Semester | 7. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 3 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | İngilizce |
| Level | Lisans Dersi |
| Type | Normal |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Prof. Dr. KENAN LOPCU |
| Course Instructor |
Salih ÇAM
(A Group)
(Ins. in Charge)
|
Course Goal / Objective
The aim of this course is to provide students with the basic concepts of econometrics and to strengthen econometric background. This course also aims to equip students with skills to carry out independent applied research and be able to apply certain econometric methods to economic problems.
Course Content
This course, which is the continuation of econometrics I and econometrics II, will focus on topics such as simultaneous equations estimation methods, dynamic models, discrete choice models, limited dependent variable models, panel data analysis, time series analysis.
Course Precondition
No prerequisites are required
Resources
Carter Hill, William Griffiths, and George Judge, Undergraduate Econometrics, 2nd Edition, John Wiley and Sons, 2001. Carter Hill, William Griffiths, and Guay C. Lim, Principles of Econometrics, 4rth Edition, John Wiley and Sons, 2011. Damodar N. Gujarati, Basic Econometrics, 4th edition, McGraw-Hill, 2003. Ercan Uygur, Ekonometri: Yöntem ve Uygulama, İmaj Yayınevi, Ankara, 2001. Jack Johnston and John Dinardo, Econometric Methods, 4th Edition, McGraw-Hill, 1997.
Notes
Lecture Notes
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Completely master the econometric model specification. |
| LO02 | Learn to estimate dynamic models |
| LO03 | Estimates the discrete choice models |
| LO04 | Estimates the panel data models |
| LO05 | Estimates the time series models |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the basic concepts and theorems in the fields of Econometrics, Statistics and Operations research | 3 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Acquires basic Mathematics, Statistics and Operation Research concepts | 3 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Describes the necessary concepts of Business | 4 |
| PLO04 | Beceriler - Bilişsel, Uygulamalı | Equipped with the foundations of Economics, and develops Economic models | 5 |
| PLO05 | Beceriler - Bilişsel, Uygulamalı | Models problems with Mathematics, Statistics, and Econometrics | 3 |
| PLO06 | Beceriler - Bilişsel, Uygulamalı | Has the ability to analyze/interpret at the conceptual level to develop solutions to problems | 2 |
| PLO07 | Beceriler - Bilişsel, Uygulamalı | Collects/analyses data | 5 |
| PLO08 | Bilgi - Kuramsal, Olgusal | Interprets the results analyzed with the model | 5 |
| PLO09 | Beceriler - Bilişsel, Uygulamalı | Combines the information obtained from different sources within the framework of academic rules in a field which does not research | 5 |
| PLO10 | Beceriler - Bilişsel, Uygulamalı | It develops traditional approaches, practices and methods into new working methods when it deems necessary | 2 |
| PLO11 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Leads by taking responsibility individually and/or within the team | |
| PLO12 | Yetkinlikler - Öğrenme Yetkinliği | In addition to herself/himself professional development, constantly improves in scientific, cultural, artistic and social fields in line with interests and abilities | |
| PLO13 | Yetkinlikler - Öğrenme Yetkinliği | Being aware of the necessity of lifelong learning, it follows the current developments in the field / constantly renews itself | 4 |
| PLO14 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Uses a package program of Econometrics, Statistics, and Operation Research | 5 |
| PLO15 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Uses Turkish and at least one other foreign language, academically and in the business context | 3 |
| PLO16 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Interprets the feelings, thoughts and behaviors of the related persons correctly/expresses himself/herself correctly in written and verbal form | 5 |
| PLO17 | Yetkinlikler - Alana Özgü Yetkinlik | Interprets data on current economic and social issues | 5 |
| PLO18 | Yetkinlikler - Alana Özgü Yetkinlik | Applies social, scientific and professional ethical values | 4 |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Model specification, model specifation error and types of model specification error | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 2 | Tests of model specification error , errors of measurement and model selection criteria. | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 3 | Dynamanic models: Estimation of Distributed -Lag models. The Koyck Approach, Adaptive expectation, Partial adjustment | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 4 | Estimation of Autoregressive models: Almon approach, polinominal spline distrubuted lags, exogeneity tests, the wu-hausman test (first lesson) | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 5 | Estimation of Autoregressive models: Almon approach, polinominal spline distrubuted lags, exogeneity tests, the wu-hausman test | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 6 | Simultaneous equation models:specifation and identification in Simultaneous equation models | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 7 | Maximum likelihood (ML): likelihood ratio test, wald test, lagrange multiplier tests | Readings and problem set | Öğretim Yöntemleri: Anlatım |
| 8 | Mid-Term Exam | Problem Solving | Ölçme Yöntemleri: Yazılı Sınav |
| 9 | Maximum likelihood (ML): likelihood ratio test, wald test, lagrange multiplier tests (second lesson) | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 10 | Discrete choice models: Linear probability model, probit and logit models | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 11 | Limited dependent variables: truncating, censoring, and sample selection | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 12 | Tobit model, Heckman model | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 13 | Panel data analysis: general terms of panel data, advantages of panel data, pooled least squares | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 14 | panel data analysis fixed effects models and random effects models | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 15 | Time series modeling: ARMA processes, testing and estimation for stationarity, forecast | Readings and problem set | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 16 | Term Exams | Problem Solving | Ölçme Yöntemleri: Yazılı Sınav |
| 17 | Term Exams | Problem Solving | Ölçme Yöntemleri: Yazılı Sınav |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 3 | 42 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 2 | 28 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 6 | 6 |
| Final Exam | 1 | 10 | 10 |
| Total Workload (Hour) | 86 | ||
| Total Workload / 25 (h) | 3,44 | ||
| ECTS | 3 ECTS | ||