jueves, 19 de abril de 2012

Econometrics: week 11 (April 23-29th)

In weeks 7-9 we:
In the seminar, we solved this exercise sheet and did a forecasting exercise with the Beauty dataset.

The exercise sheet illustrated several ideas:
  1. Econometrics builds and generalizes over the results of previous statistics courses, for example because...
  2. ...the OLS estimate for the constant term of a model with no additional regressor is the sample mean of the endogenous variables, and also,
  3. ...assuming that all the variables are mean-centered, the OLS estimate for the slope of a model with a single regressor is related with standard measures of linear relationship such as the sample covariance or the sample correlation coefficient.
  4. When the variables in the model are re-scaled, some results may change, while others remain unaffected. The same happens when one adds or subtracts arbitrary constants to the value of the variable. These ideas are described mathematically in a short note
The goals for this week are:
  • Explain Lessons 5.1 and 5.2
  • In the extra seminar of next April 25th we will do a "dry run" for the final exam. It will consist in a short test with 10 questions about Lessons 1-3.
Your Bolonia homework for next week consists in preparing this test. In particular, you are not required to send an e-mail.

To prepare it you should: