INTRODUCTION TO ECONOMETRICS-1

This course belongs to the fundamentals teaching activities of the bachelor course called "Commercio Estero e Turismo". In line with the educational objectives of the course, this activity aims to present the main mathematical and statistical tools necessary for the analysis of economic phenomena; particular attention will be devoted to the use of formal language and methodological rigor. More specifially, the course aims to provide an introduction to the econometric techniques very useful for the correct interpretation of the estimates and tests in dynamic equations. The students will approach the model specification strategies through simulations of economic and financial series. By the end of the course students will be able to understand and manage univariate linear models estimated by standard econometric software (like Excel, Gretl, R).

Knowledge and understanding skills.
Attendance and active participation in lectures, online activities, exercise sessions, tutoring activities, together with the individual study will allow the student to acquire the following knowledge and understanding skills:
- know and use the main mathematical tools necessary to represent complex economic phenomena;
- know the mathematical techniques useful to solve and analyze the proposed models.

Ability to apply knowledge and understanding.
Through the interaction with the instructors, the tutors, and peers and through the individual study the student acquires the following abilities:
- know how to use quantitative instruments to cope with complex problems related to an economic / business environment;
- know how to choose the most appropriate technique in order to solve the concrete problem under analysis.

Judgment skills, communication skills, learning skills.
Regarding the autonomy of judgment, communication skills and learning abilities, through the personal and group study of the concepts seen in class, the student will be able to:
- formulate rational justifications to the approach used to solve economic / business problems, understanding their relative strengths and weaknesses, by means of hypotheses, data and models;
- know how to formulate and communicate an adequate analysis and interpretation of economic-financial data through the use of mathematical models.

Compulsory Economia Politica, Matematica.
Strongly suggested Statistica.

-) Problems faced by the econometrician. Types of data and of econometric models. Recalls from sample estimation and testing theory. Recall of linear algebra.
-) Linear regression model and ordinary least squares. Goodness of fit and test of significance.
-) Univariate time series models. ARMA processes. Stationarity and unit roots tests.
-) Selecting regressors. Specification tests.
-) Heteroskedasticity and Autocorrelation.

Johnston J. - Econometrica, Franco Angeli, Milano
Stock, J. and Watson, M. - Introduzione all'econometria, Pearson

Letture integrative:
Heij, C. De Boer, P, Fransen, P., Kloek, T. and van Dijk, H. (2012) - Econometric Methods with Applications in Business and Economics, Oxford University
Wooldridge, J. (2012) - Introductory Econometrics: A Modern Approach, Cengage
Cappuccio N. e R. Orsi, Econometria, Il Mulino, 2005

Written discussion of the estimation results of an univariate linear model and solutions of elementary econometric problems.

Possible oral examination

Traditioanl lectures, practice sessions, and tutorials.

Italian

written and oral

This subject deals with topics related to the macro-area "Climate change and energy" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development