INTRO EC / w1 & w2
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35 Terms
8 facts
Econometrics is the development of statistical methods for
Steps in Empirical Economic Analysis
Classical Linear Regression model (CLR)
Overview
CLR
Assumptions
Which violations are possible for which assumption? Why?
CLR
Notation & Names
CLR
Coefficients
CLR
exper2 & semi-log form
CLR
E(εi | X) ≠ 0
CLR
Implications of Strict Exogeneity
CLR
Random Samples
CLR
Fixed Regressors
OLS
Overview + Residual vs Error
OLS
SSR
OLS
FOCs
OLS
SOCs + Final Solution
OLS
Extra Concepts
OLS
Method of Moments (MM)
OLS
Estimation of Variance(error term)
Sampling Error
OLS
Interpretation R2
OLS
Uncentered R2
used in models without an intercept
OLS
Centered R2
used in models with an intercept
R2
Uncentered vs Centered
OLS
Adjusted R2
Terminology
Estimator, Estimate
Unbiasedness
OLS
Variance of Estimator
Gauss-Markov Theorem
s2 =
Unbiasedness s2
Estimator Var(b|X)
Trace Facts
Semi-log specification
Dummy Variable Trap
Variance of Independent Variable vs Sampling Variance
