Facultatea de Științe Economice și Gestiunea Afacerilor
Str. Teodor Mihali nr. 58-60
Cluj-Napoca, RO-400591
Tel.: 0264-41.86.52-5
Fax: 0264-41.25.70
econ@econ.ubbcluj.ro
www.econ.ubbcluj.ro
DETAILED SYLLABUS
Introduction to Econometrics
1.
Information about the program
1.1 Higher education institution
1.2 Faculty
1.3 Department
1.4 Field of study
1.5 Study cycle
1.6 Specialization/Program of study
Babeş-Bolyai University of Cluj-Napoca
Faculty of Economics and Business Administration
Department of Statistics, Forecasts, Mathematics
Accounting
Bachelor
Accounting and Management Information Systems (CIG – Romanian
abbreviation) / Economist
2. Information about the discipline
2.1 Discipline title
Introduction to Econometrics
2.2 The holder of the course
Associate Professor Cristian
activities
Marius LITAN
2.3 The holder of the seminar
Associate Professor Cristian
activities
Marius LITAN
2.4 Year of study
II 2.5 Semester
I
ES (i.e.,
2.6 Type of assessment summative
examination)
2.7
Op (i.e.,
Discipline
optional)
regime
3. Total time estimated (hours per semester of teaching)
3.1 Number of hours per week
3
From which: 3.2 course
2
3.3 seminar/laboratory
1
3.4 Total hours of curriculum
42 From which: 3.5 course
28
3.6 seminar/laboratory
14
Time distribution
Study after textbook, course support, bibliography and notes
Additional documentation in library, on specialized electronic platforms and on the field.
Preparing seminars/laboratories, essays, portfolios and reports.
Tutoring
Examinations
Others activities...................................
3.7 Total hours for individual
58
study
3.8 Total hours per semester
100
3.9 Number of credits
4
Hour
s
15
20
15
4
4
4. Preconditions (if necessary)
4.1 Of curriculum
4.2 Of skills
It is not the case.
It is not the case.
1
NOTE: This document represents an informal translation performed by the faculty
5. Conditions (if necessary)
5.1. For conducting the
course
5.2. For conducting
seminar/laboratory
It is not the case.
The seminars should be held in a room with computers on which EVIEWS and SPSS are
installed.
6. Specific skills acquired
Profess Acquiring the basic tools of econometrics plays an obvious role in the development of the following
professional skills by the students (skills associated to the CIG English line of study):
ional
skills
• The ability to complete financial reports, financial synopsis documents, reports to different
authorities and financing institutions, the ability to make economic and financial analysis, summaries,
economic forecasts and evaluations;
•
To give assistance to the management of the institution (in which the graduate activates) in the
decisional process (based as much as possible on scientific arguments).
Transv The courses and the seminars of econometrics play a role in the development of the following transversal
skills (associated to the CIG English line of study):
ersal
skills
- To ability to observe, explain and interpret the ideas, processes, phenomena, trends that are specific to
the economic activities; the ability to provide scientific arguments regarding microeconomic and
macroeconomic phenomena;
- Written and oral communication for professional purposes and the ability to work efficiently in teams
of complex tasks.
- The ability to use software that deals with processing information, management of large databases
specific to socio-economic activities.
7. Course objectives (arising from grid of specific skills acquired)
7.1 General objective of the
discipline
7.2 Specific objectives
The general purpose of the course is to prepare the students to apply
econometric methods and procedures to any economic field, within both the
academic world and the real business world.
- The students should acquire the ability to construct econometric models
based on the economic theory;
- The students should acquire the ability to bring the econometric models to
data;
- The students should be able to examine the hypotheses and to validate
econometric models;
- The students should be able to test a theory based on the empirical
estimation of the econometric model.
8. Contents
8.1 Course
Teaching methods
Probabilities and probability distributions (random variables; discrete classical
distributions: Bernoulli distribution, Binomial distribution, Poisson distribution;
continuous probability distribution: Exponential distribution, Normal
distribution, Student distribution).
The professor gives a
talk and encourages
discussions on the
theme.
The professor gives a
talk and encourages
discussions on the
theme.
Statistical inference (samples and sampling distributions, point estimation,
convergence of random variables, confidence sets).
Observati
ons
1 course
2 courses
2
NOTE: This document represents an informal translation performed by the faculty
The simple linear model.
(specification of the model, error term, Ordinary Least Squares Method,
examples of linear models, testing hypotheses, the properties of parameters
estimates, test of significance of parameters estimated, analysis of variance,
prediction in the simple linear model, etc)
Multiple linear regression analysis.
The professor gives a
talk and encourages
discussions on the
theme.
3 courses
The professor gives a
(specification of the model, estimation of the parameters, test of significance of talk and encourages
3 course
the estimated parameters, the coefficient of multiple determination, partial
discussions on the
correlation coefficient, test of the overall significance of the regression,
theme.
prediction in the multiple linear model, etc)
The professor gives a
The assumptions of the linear model on cross-section data versus the
talk and encourages
1 course
assumptions of the linear model with time series data.
discussions on the
theme.
Problems with linear regression and solutions.
The professor gives a
talk and encourages
2 courses
(multicollinearity, heteroscedasticity, correlation of the error term with the
discussions on the
regressors, autocorrelation, errors in variables)
theme.
Some aspects regarding the specification of an econometric model. Examples of
econometric models.
The professor gives a
talk and encourages
1 course
(the steps of the specification, the variables, the parameters, different kind of
discussions on the
models, economic theory, specification and testing of some well-known
theme.
econometric models)
The professor gives a
talk and encourages
Review of the material.
1 course
discussions on the
theme.
Bibliography:
 Dragos, C.
Bazele econometriei si modelarii econometrice, Mediamira, Cluj-Napoca, 2007;
 Green, W.H. - Econometric Analysis, Ed. Pretince Hall, Londra, 1997 (or newer editions);
 Johnston, J., Dinardo, J. Econometric methods, Fourth Edition, McGraw-Hill Inc., Boston, 1998 (or
newer editions);
 Maddala, G.S. - Limited-dependent and Qualitative Variables in Econometrics , Cambridge University
Press, Cambridge, 1983 (or newer editions);
 Salvatore, D., Reagle, D. Statistics and econometrics, Second Edition, McGraw-Hill Inc., 2002, (or newer
editions).
8. 2 Seminar/laboratory
Teaching methods
Observations
Introduction to EVIEWS software, data analysis, linear model,
parameters, statistical inference, modeling.
Analysis of terms and
1 seminar
concepts, discussions, case
studies, solving exercises
and real data examples,
discussion of the
homework projects, etc.
The simple linear model in EVIEWS: design of the model, graphical Analysis of terms and
1 seminar
representation, interpretation of the parameters estimates, testing
concepts, discussions, case
hypothesis in EVIEWS, testing the validity of the model, predictions of studies, solving exercises
the model with EVIEWS.
and real data examples,
discussion of the
homework projects, etc.
The multiple linear model in EVIEWS: design of the multiple linear
Analysis of terms and
1 seminar
model, graphical representations, interpretation of the parameters, test concepts, discussions, case
of significance of parameters in EVIEWS, partial correlation coefficient studies, solving exercises
and interpretation, prediction in the multiple linear model in EVIEWS. and real data examples,
discussion of the
Presenting the requirements of the first homework; the project is due to homework projects, etc.
the next meeting.
3
NOTE: This document represents an informal translation performed by the faculty
Tests for error specification, tests for heteroskedasticity (with
EVIEWS). Solutions.
Analysis of terms and
concepts, discussions, case
studies, solving exercises
and real data examples,
discussion of the
homework projects, etc.
Tests for autocorrelation of errors (with EVIEWS). Solutions. Model Analysis of terms and
specification tests (with EVIEWS).
concepts, discussions, case
studies, solving exercises
Presenting the requirements of the second homework; the project is due and real data examples,
to the next meeting.
discussion of the
homework projects, etc.
The need for IV (instrumental variables) estimation. How can it be
Analysis of terms and
implemented in EVIEWS.
concepts, discussions, case
studies, solving exercises
and real data examples,
discussion of the
homework projects, etc.
Review problems: estimating and testing some well-known economic Analysis of terms and
models.
concepts, discussions, case
studies, solving exercises
and real data examples,
discussion of the
homework projects, etc.
Bibliography:
 Dragos, C.
Bazele econometriei si modelarii econometrice, Mediamira, ClujNapoca, 2007;
 Green, W.H. - Econometric Analysis, Ed. Pretince Hall, Londra, 1997 (or newer editions);
 Johnston, J., Dinardo, J. Econometric methods, Fourth Edition, McGraw-Hill Inc.,
Boston, 1998 (or newer editions);
 Maddala, G.S. - Limited-dependent and Qualitative Variables in Econometrics ,
Cambridge University Press, Cambridge, 1983 (or newer editions);
 Salvatore, D., Reagle, D. Statistics and econometrics, Second Edition, McGraw-Hill Inc.,
2002, (or newer editions).
 http://public.econ.duke.edu/pub//burmeister/EViews/EViews_5_Users_Guide.pdf;
1 seminar
1 seminar
1 seminar
1 seminar
9. Corroboration / validation of the discipline content according to the expectations of the epistemic
community representatives, of the ones of the professional associations and also of the representative
employers of the corresponding program.
Theoretical econometrics considers questions about the statistical properties of estimators and tests, while applied
econometrics is concerned with the application of econometric methods on data in order to assess economic
theories.
In this context, Introduction to Econometrics is one of the main courses providing the students information on how
to jointly apply economic theory, mathematics and statistical techniques for the purpose of testing hypotheses,
estimating and forecasting economic phenomena. Therefore, it is a course of vital importance for the professional
development of any undergraduate in any economic field that needs quantitative assessments.
10. Evaluation
Type of activity
10.1 Evaluation criteria
10.2 Methods of assessment
10.4 Course
The degree by which the students correctly
acquired the concepts, notions and tools of
basic econometrics.
Written final exam.
10.3 Share in
final grade
50%
4
NOTE: This document represents an informal translation performed by the faculty
The ability to use these concepts, notions and
tools of econometrics in financial and
economic applications (i.e. practical
problems, real life situations, etc.).
10.5
The degree by which the students correctly The assessment of the homework
50%
Seminar/laborator acquired the concepts, notions and tools of projects. The assessment tries to
y
basic econometrics.
measure the degree by which the
students acquired the theory and
The ability to use the econometrics
techniques (and the specialized software) to the ability to apply it in practical
examples and real life situations.
solve case studies, real data examples, real
The realization of the homework
life economic and financial situations.
projects is conditioning the
Capacity to interpret the results of the
econometric analysis and to take economic or obtaining of the final grade.
financial decisions based on these results.
10.6 Minimum standard of performance
The students should prove that acquired the concepts, notions and tools of basic econometrics above a minimal
accepted level. The students should prove that have the ability to apply this knowledge to practical problems and
real life situations, above a minimal accepted level.
Date of filling
28.01.2015
Signature of the course professor
Associate Professor Cristian Marius LITAN
Date of approval by the department
06.02.2015
Signature of the seminar professor
Associate Professor Cristian Marius LITAN
Head of department’s signature
Professor Diana Andrada FILIP
5
NOTE: This document represents an informal translation performed by the faculty