This course prepares students for the task of analyzing primary and secondary economic data in order to assist decision makers in profit, nonprofit and public organizations. It also provides an introduction to econometrics: regression models, serial correlation, forecasting, simultaneous equation estimation, model building, time series and simulations. Students work on a major project during the course.
- Understand apply a variety of techniques of regression analysis.
- Perform linear regression.
- Demonstrate knowledge of the SPSS statistical analysis software package.
- Demonstrate the ability to conduct a variety of regressions and correctly interpret the results.
- Develop appropriate mathematical models of economic behavior or phenomena.
- Evaluate forecasting models.
- Evaluate time series models.
- Interpret the meaning of regression results and apply results to answering economic questions.
- Perform binomial logistic regression.
- Understand linear models.
- Understand violations of the classical model.
- Use these techniques to effectively solve problems and make decisions based on relevant data and appropriate analysis.