Econometrics for Business Research

BUS444E Econometrics for Business Research

  • Topics


    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 core course is to make students critical consumers of statistical analysis. To that end, students will learn how to obtain and analyze firm data. During the course, students will learn how different types of data can be obtained, how they can ensure that data is reliable, and to what extend the variables in the data correspond to theoretical variables in economic models. Furthermore, students will be introduced to statistical (econometric) methods for analyzing and interpreting data. The course will have a clear focus on applications in business administration. Students will use data from financial markets as well as Norwegian accounting data from the registry Brønnøysundregisteret. Applications will include both regressions used for forecasting purposes and regressions used as tools to reveal causal relationships.

  • Learning outcome

    Learning outcome

    After having completed the course, the students will have a working knowledge of the ordinary least squares method (OLS) and its limitations. In addition, the students will know standard procedures for adapting OLS when the classical assumptions are not satisfied. The students will also be able to interpret and explain the results from econometric studies, and be able to conduct econometric studies of their own. After completing the course the students will:

    - Know how to structure a master thesis

    - Be able to formulate an empirical research question

    - Be able to identify, collect, and organize relevant data

    - Be able to analyze data using standard tools for cross section, panel and time series

    - Understand which assumptions simple empirical analyses are based on

    - Be able to interpret results from empirical analyses and identify potential weaknesses

  • Teaching


    - Lectures

    - Group Exercises

  • Required prerequisites

    Required prerequisites

    Bachelor level statistics and mathematics

  • Credit reduction due to overlap

    Credit reduction due to overlap

    The course cannot be combined with ECN402 - Econometric techniques or BUS444

  • Requirements for course approval

    Requirements for course approval

    A midterm assignment written in English has to be approved

  • Assessment


    Standard written exam 4 hours in English.

  • Grading Scale

    Grading Scale


  • Computer tools

    Computer tools


  • Semester


    Spring and autumn

  • Literature


    R. Carter Hill, William Griffiths og Guay C. Lim: «Principles of Econometrics» 4.edition

    Materials posted on itslearning


ECTS Credits
Teaching language
Autumn semester:English  Spring semester: Norwegian

Course responsible

Spring semester: Arnt Ove Hopland, Institutt for foretaksøkonomi.

Autumn semester: Floris Zoutman