Introduction to Econometrics

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In this lecture, we discuss the nature of econometrics and economic data, steps in empirical economic analysis, causality and the notion of ceteris paribus in econometric analysis, and the structure of economic data. The materials of this lecture are based on Jeffrey Wooldridge's Introduction to Modern Econometrics. • We also discuss correlation versus causality having been inspired by Steven Levitt and Stephen Dubner's short discussion on the topic: • • The Difference Between Correlation an... . • Timecodes • 0:00:00 - Introduction • 0:02:43 - Class logistics • 0:16:43 - What is econometrics? • 0:25:20 - How econometrics differ from statistics • 0:52:00 - Observational data • 0:58:03 - Experimental data • 1:07:14 - Inference • 1:15:35 - Modeling • 1:27:23 - Economic model of crime • 1:38:56 - Mincerian model • 1:50:04 - Identification • 1:59:19 - Goals of this course • 2:02:57 - Four broad class of data • Website: sahadewo.wordpress.com • Twitter: @gasahadewo • Department of Economics • Faculty of Economics and Business • Universitas Gadjah Mada • Indonesia

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