Regression Models in Economics and Business

Aims of the course

In order to understand the complicated economic and business environment it is vital to be able to competently quantify and analyze economic and business data. Regression analysis is one of the most comprehensive approaches to achieve this goal. The purpose of this course is thus to address the basic methodological concepts related to the linear regression model and then introduce, based on this, additional, more specialized topics; endogeneity, time series, discrete choice analysis, and panel data analysis. The course is very much practically oriented; the analyzed topics are applied to data in various examples.

Course syllabus

1. Multiple regression model and least squares estimation
2. Dummy explanatory variables and hypothesis testing
3. Model diagnostics
4. Estimation of models with endogeneity
5. Time series analysis and forecasting
6. Discrete choice analysis and maximum likelihood estimation
7. Panel data analysis

Course director(s)