Professor: Dr. Corey Lang
Prerequisites: ECN 575 or equivalent, or STA 308 or equivalent, or permission of instructor
Catalog Description: Application of statistics and mathematics to economic analysis. Implication of assumption required by statistical methods for testing economic hypotheses. Current econometric methods examined and discussed
Ragnar Frisch as founding editor of Econometrica defines “econometrics” in the inaugural issue (1933):
“Econometrics is by no means the same as economic statistics. Nor is it identical with what we call general economic theory, although a considerable portion of this theory has a definitely quantitative character. Nor should econometrics be taken as synonymous with the application of mathematics to economics. Experience has shown that each of these three view-points, that of statistics, economic theory, and mathematics, is a necessary, but not by itself a sufficient, condition for a real understanding of the quantitative relations in modern economic life. It is the unification of all three that is powerful. And it is this unification that constitutes econometrics.”
The primary objective of this course is to provide you with the necessary foundation in the econometric theory that can be used for research and policy design.
By the end of the semester students will be able to:
Dr. Corey Lang
Department of Environmental and Natural Resource Economics
207 Kingston Coastal Institute
The vast majority of resource economics research, published or un-published, contains from traces to large amounts of econometric information. Thus, possessing some knowledge of this field of study is not only desirable but also necessary in pursuing a graduate degree in resource economics and/or choosing a career in research or academia.
This course is a requirement for the environmental and natural resource economics graduate programs and a prerequisite for several other upper level graduate courses.