221.651.01 ECONOMETRICS I

Introduces students to the application of basic statistical methods to economic analyses. They use econometrics to support or reject theories from economics using empirical observation. Students cover the basic concepts behind linear regression models by studying cases where the dependent variable is continuous and is a linear function of the parameters of interest. Improves students’ ability to conduct economic analysis using observational data, as economic studies rarely benefit from the availability of controlled experiments. Exercises provide hands-on experience in implementing well-crafted empirical analysis. Students learn to employ tools and methods and compare the results with respect to those obtained from initial estimations based on very restricted assumptions.

Upon successful completion of this course, students will be able to

1. apply methodological principles and statistical concepts as they relate to the field of health economics

2. conduct linear regression analysis of observational data in order to reach conclusions relevant for decision-making processes in both national and international settings.

3. Use the Stata computer software package to conduct solid applied empirical research