TÜRKÇE
ENGLISH
Information
Course Goal / Objective
By the end of the course, students are expected to be completely mastered all aspects of the Least Squares Estimation and be familiar and able to use the methods Maximum Likelihood and Generalized Method of Moments
Course Content
This course is the first part of a two semester sequence designed to provide students with the applications of economic theory and econometric methods. To this end an overview of econometric methods and their applications believed to be the most useful will be presented. We will discuss how to use economic theory and data to estimate key parameters, test economic hypotheses, and predict economic outcomes
Course Precondition
No Prerequisites
Resources
Cameron, A. C., & Trivedi, P. K. (2010). Microeconometrics using stata (Vol. 2). College Station, TX: Stata press. Gujarathi, D. M. (2022). Gujarati: Basic Econometrics. McGraw-hill.
Notes
Datasets
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Explains the EKK method completely. |
| LO02 | Explain the Maximum Likelihood Method |
| LO03 | Students make statistical inferences of the models they estimate |
| LO04 | Learns the necessary software for the estimation of the relevant models. |
| LO05 | Makes estimates using the Generalized Method of Moments. |
| LO06 | Estimates econometric models using the maximum likelihood method. |
| LO07 | Estimates econometric models with the EKK method |
| LO08 | Explains other (2sls, 3sls, iv) estimation methods |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the basic concepts and theorems in the fields of Econometrics, Statistics and Operations research | 3 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Acquires basic Mathematics, Statistics and Operation Research concepts | 4 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Describes the necessary concepts of Business | |
| PLO04 | Beceriler - Bilişsel, Uygulamalı | Equipped with the foundations of Economics, and develops Economic models | 4 |
| PLO05 | Beceriler - Bilişsel, Uygulamalı | Models problems with Mathematics, Statistics, and Econometrics | |
| PLO06 | Beceriler - Bilişsel, Uygulamalı | Analyzes/interprets at the conceptual level to develop solutions to problems | 4 |
| PLO07 | Beceriler - Bilişsel, Uygulamalı | Collects/analyses data from reliable data sources for the purpose of study | 3 |
| PLO08 | Bilgi - Kuramsal, Olgusal | Interprets the results analyzed with the model | 4 |
| PLO09 | Beceriler - Bilişsel, Uygulamalı | Combines the information obtained from different sources within the framework of academic rules in a field of research | 3 |
| PLO10 | Beceriler - Bilişsel, Uygulamalı | Adapts traditional approaches, practices and methods to a new study when necessary | 3 |
| PLO11 | Beceriler - Bilişsel, Uygulamalı | Uses a package program of Econometrics, Statistics, and Operation Research | 3 |
| PLO12 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Leads by taking responsibility individually and/or within the team | |
| PLO13 | Yetkinlikler - Öğrenme Yetkinliği | In addition to herself/himself professional development, constantly improves in scientific, cultural, artistic and social fields in line with interests and abilities | |
| PLO14 | Yetkinlikler - Öğrenme Yetkinliği | Being aware of the necessity of lifelong learning, it follows the current developments in the field / constantly renews itself | 4 |
| PLO15 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Uses Turkish and at least one other foreign language, academically and in the business context | 3 |
| PLO16 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Interprets the feelings, thoughts and behaviors of the related persons correctly/expresses himself/herself correctly in written and verbal form | 4 |
| PLO17 | Yetkinlikler - Alana Özgü Yetkinlik | Interprets data on current economic and social issues | |
| PLO18 | Yetkinlikler - Alana Özgü Yetkinlik | Applies social, scientific and professional ethical values |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Subject Matters and Methodology | Reading sections related to Course Topics and Methods from source books | Öğretim Yöntemleri: Anlatım |
| 2 | Least Squares Estimation 1 | Reading the sections about Least Squares Estimation from the source books | Öğretim Yöntemleri: Anlatım, Gösterip Yaptırma |
| 3 | Least Squares Estimation 2 | Reading the sections about Least Squares Estimation from the source books | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 4 | Method of Maximum Likelihood Estimation 1 | Reading the sections about Maximum Likelihood Estimation from the source books | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 5 | Method of Maximum Likelihood Estimation 2 | Reading the sections about Maximum Likelihood Estimation from the source books | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 6 | Statistical Inference Using the Maximum Likelihood Approach 1 | Reading sections on Statistical Inference Using Maximum Likelihood Approach from source books | Öğretim Yöntemleri: Anlatım, Gösterip Yaptırma, Problem Çözme |
| 7 | Statistical Inference Using the Maximum Likelihood Approach 2 | Reading sections on Statistical Inference Using Maximum Likelihood Approach from source books | Öğretim Yöntemleri: Anlatım, Problem Çözme, Proje Temelli Öğrenme |
| 8 | Mid-Term Exam | reviewing the topics | Ölçme Yöntemleri: Yazılı Sınav |
| 9 | Method of Moments 1 | Reading the sections about the Method of Moments from source books | Öğretim Yöntemleri: Anlatım |
| 10 | Method of Moments 2 | Reading the sections about the Method of Moments from source books | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 11 | Statistical Inference Using the Method of Moments | Reading the sections on Statistical Inference Using the Method of Moments from source books | Öğretim Yöntemleri: Anlatım, Problem Çözme, Gösterip Yaptırma |
| 12 | Generalized Method of Moments 1 | Reading the sections about Generalized Method of Moments from source books | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 13 | Generalized Method of Moments 2 | Reading the sections about Generalized Method of Moments from source books | Öğretim Yöntemleri: Anlatım, Problem Çözme |
| 14 | Other Estimation Techniques1 | Reading the sections about other estimation methods from source books | Öğretim Yöntemleri: Anlatım, Problem Çözme, Soru-Cevap |
| 15 | Other Estimation Techniques 2 | Reading the sections about other estimation methods from source books | Öğretim Yöntemleri: Problem Çözme, Anlatım, Soru-Cevap |
| 16 | General application | problem set | Ölçme Yöntemleri: Ödev |
| 17 | Term Exams | reviewing the topics | Ölçme Yöntemleri: Yazılı Sınav |
Assessment (Exam) Methods and Criteria
Current term shares have not yet been determined. Shares of the previous term are shown.
| Assessment Type | Midterm / Year Impact | End of Term / End of Year Impact |
|---|---|---|
| 1. Midterm Exam | 100 | 40 |
| General Assessment | ||
| Midterm / Year Total | 100 | 40 |
| 1. Final Exam | - | 60 |
| Grand Total | - | 100 |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 3 | 42 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 3 | 42 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 12 | 12 |
| Final Exam | 1 | 18 | 18 |
| Total Workload (Hour) | 114 | ||
| Total Workload / 25 (h) | 4,56 | ||
| ECTS | 5 ECTS | ||