Part II
Building the Classical Linear Regression Model
In this part . . .
Recognize how econometric techniques help you make estimates about economic relationships by relating economic theory to econometric models.
Grasp the fundamental ideas behind the most common technique used to quantify economic relationships: the ordinary least squares (OLS) technique, also known as regression analysis.
Estimate simple regression models by hand and on the computer and interpret the results of regression analysis with the help of econometric software.
Get acquainted with the assumptions of the classical linear regression model (CLRM) that define a “standard situation” in econometrics and understand their role in proving the Gauss-Markov theorem.
Find out precisely how ...