BUS444E Econometrics for Business Research
Modern companies produce large amounts of data. These data can have great value both as inputs to internal management and for analysts outside the company. The objective of this course is to give students an introduction to econometric methods useful for analyzing data. Students will learn basic tools to quantifying and interpreting economic relationships using firm data. The course covers how to acquire different types of data, the reliability of different data, and to what extent variables in the data correspond to theoretical variables in economic models. The teaching is devoted to lectures as well as data sessions where the methods covered in lectures are implemented in the statistical software Stata.
The course will have a clear focus on application in business economics. Students will mainly use Norwegian accounting data from the registry Brønnøysundregisteret. Applications will include regression analysis of empirical data. Students will get examples of typical problems in business research which can be analyzed using econometric methods.
After having completed the course, students will be familiar with the Ordinary Least Squares (OLS) method and procedures to adjust the method when different method assumptions do not hold. Students will be able to interpret and explain results from econometric studies, and be able to conduct econometric studies of their own.
After having completed the course, students
- know which assumptions empirical analyses are based on
- know how to structure a master thesis
- Are able to identify, collect, and organize relevant data
- Are able to analyze data using standard methods for cross section, panel and time series
- Are able to interpret results from empirical analyses and identify potential weaknesses
- Are able to formulate an empirical research question
- Are able to use econometric methods in own work, for example as part of the methodology in a master thesis
Problem sessions, including data sessions
Bachelor level statistics and mathematics.
Credit reduction due to overlap
The course cannot be combined with ECN402, BAN431, BUS444, or FIE401A/B
Requirements for course approval
A midterm written assignment has to be approved (group work, 2-4 students in each group).
Standard written school exam in English. 4 hours.
R. Carter Hill, William Griffiths og Guay C. Lim: «Principles of Econometrics» 4.edition
Materials posted on Canvas
- ECTS Credits
- Teaching language
Spring. Offered Spring 2021.
Please note: Due to the present corona situation, please expect parts of this course description to be changed before the autumn semester starts. Particularly, but not exclusively, this relates to teaching methods, mandatory requirements and assessment.
Associate Professor Øyvind Thomassen, Department of Business and Management Science