Enjoyable Econometrics from Coursera

The goal of this MOOC is to show that econometric methods are often needed to answer questions. A question comes first, then data are to be collected, and then finally the model or method comes in. Depending on the data, however, it can happen that methods need to be adapted. For example, where we first look at two variables, later we may need to look at three or more. Or, when data are missing, what then do we do? And, if the data are counts, like the number of newspaper articles citing someone, then matters may change too. But these modifications always come last, and are considered only when relevant.

An important motivation for me to make this MOOC is to emphasize that econometric models and methods can also be applied to more unconventional settings, which are typically settings where the practitioner has to collect his or her own data first. Such collection can be done by carefully combining existing databases, but also by holding surveys or running experiments. A byproduct of having to collect your own data is that this helps to choose amongst the potential methods and techniques that are around.

If you are searching for a MOOC on econometrics that treats (mathematical and statistical) methods of econometrics and their applications, you may be interested in the Coursera course “Econometrics: Methods and Applications” that is also from Erasmus University Rotterdam.

What's inside

Syllabus

Introduction

In this week you will be introduced to the MOOC Enjoyable Econometrics.

Basic statistics

This week covers basic statistics like distributions, correlations and t-tests. You will be introduced to these concepts through real-life examples.

Simple regression

Simple regression is the focus of this week, real-life examples will help you to apply your knowledge. This week ends with a test to check if you've mastered the content of the first three weeks.

Multiple regression

This week covers the topic of multiple regression, which is introduced to you through examples from practice.

Variants of multiple regression

In this week you will encounter different variants of multiple regression illustrated with examples.

New cases with new techniques

The last week of this MOOC focuses on real life cases that require more advanced econometric methods.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Involves using existing databases, surveys, and experiments to test models and methods

Introduces concepts through real-life examples

Includes multiple regression and variations

Covers advanced econometric methods for real-life cases

Provides basic statistics training

Offers a test to assess understanding after week three

Reviews summary

Somewhat enjoyable intro to econometrics

Students say this introductory course provides a fun and easy way to learn about econometrics. It's noted that there's an emphasis on examples, which helps engage learners. However, the level of content can be challenging for some, especially those new to the field. Keep in mind that this is an audit-only course, meaning there's no certificate upon completion.

The course uses examples to make the material more engaging.

"Great first course for anyone interested in econometrics"

"This MOOC offer an easy way to begin an understanding of the basic ideas behind the econometrics methods."

Some learners found the course content challenging.

"the explanations were extremely difficult to understand especially for beginner."

"It's too brief course... and I didn't find something enjoyable when I can't understand more than 80% of the materials."

This is an audit-only course, meaning there is no certificate.

"It's a fun course, but there's no certificate of completion"

"NO CERTIFICATE IS PROVIDED ON COMPLETION."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Enjoyable Econometrics with these activities:

Connect with experts or experienced professionals in econometrics

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Having access to guidance and support from experienced individuals can significantly enhance your learning journey and career prospects.

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Identify potential mentors in academia, industry, or research institutions.
Reach out to them via email, LinkedIn, or other professional networking platforms.
Request a meeting or virtual consultation to discuss your goals and seek guidance.

Review probability statistics and basic calculus

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Brushing up on these foundational mathematical skills will equip you to better understand the concepts and methods introduced in this course.

Browse courses on Calculus

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Review key concepts in probability distributions, such as mean, variance, and standard deviation.
Practice solving problems involving basic calculus operations, including differentiation and integration.

Engage in study group discussions

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Collaborating with peers can enhance your understanding of concepts, provide different perspectives, and foster problem-solving skills.

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Form study groups with classmates or fellow learners.
Meet regularly to discuss course materials, work through problems, and share insights.

Four other activities

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Develop a cheat sheet of key econometric formulas

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Creating a summary of important formulas will aid in memorization and provide a quick reference during problem-solving.

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Compile a list of essential econometric formulas from the course materials.
Condense and organize the formulas into a concise and visually appealing cheat sheet.

Solve practice problems regularly

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Regular practice is crucial for developing proficiency in econometric methods and applying them to real-world scenarios.

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Access online problem sets or textbook exercises.
Set aside dedicated time for solving practice problems.
Review and analyze your solutions to identify areas for improvement.

Conduct a small-scale econometric analysis project

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Applying econometric methods to a real-world problem will provide valuable hands-on experience and solidify your understanding.

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Identify a research question or problem that can be addressed using econometric techniques.
Collect and prepare the necessary data.
Choose appropriate econometric methods and conduct the analysis.
Interpret the results and draw conclusions.

Attend econometrics workshops or conferences

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Attending workshops or conferences will expose you to cutting-edge research and provide opportunities to network with experts in the field.

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Identify relevant workshops or conferences in the area of econometrics.
Register and attend the event.
Engage in discussions, ask questions, and exchange ideas with other participants.

Career center

Learners who complete Enjoyable Econometrics will develop knowledge and skills that may be useful to these careers:

Econometrician

Econometricians use economic theory and data to analyze economic issues. This course in econometrics can help econometricians develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for econometricians who need to be able to understand and interpret data in order to conduct economic analysis.

See salaries and explore the career path for Econometrician

Statistician

Statisticians use statistical methods to collect, analyze, and interpret data. This course in econometrics can help statisticians develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for statisticians who need to be able to understand and interpret data in order to conduct statistical analysis.

See salaries and explore the career path for Statistician

Economist

Economists use economic theory and data to analyze economic issues. This course in econometrics can help economists develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for economists who need to be able to understand and interpret data in order to conduct economic analysis.

See salaries and explore the career path for Economist

Actuary

Actuaries apply mathematical and statistical methods to assess risk in insurance, finance, and other fields. This course in econometrics can help actuaries develop the skills needed to analyze data and make informed decisions about risk. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for actuaries who need to be able to understand and interpret data in order to make sound risk assessments.

See salaries and explore the career path for Actuary

Financial Analyst

Financial analysts use financial data to make investment recommendations. This course in econometrics can help financial analysts develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for financial analysts who need to be able to understand and interpret data in order to make sound investment recommendations.

See salaries and explore the career path for Financial Analyst

Data Engineer

Data engineers build and maintain data systems. This course in econometrics can help data engineers develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for data engineers who need to be able to understand and interpret data in order to build and maintain efficient and reliable data systems.

See salaries and explore the career path for Data Engineer

Quantitative Analyst

Quantitative analysts use mathematical and statistical methods to analyze financial data. This course in econometrics can help quantitative analysts develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for quantitative analysts who need to be able to understand and interpret data in order to make sound investment decisions.

See salaries and explore the career path for Quantitative Analyst

Risk Manager

Risk managers use data to assess and manage risk. This course in econometrics can help risk managers develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for risk managers who need to be able to understand and interpret data in order to make sound risk management decisions.

See salaries and explore the career path for Risk Manager

Market Researcher

Market researchers use data to understand consumer behavior. This course in econometrics can help market researchers develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for market researchers who need to be able to understand and interpret data in order to conduct market research.

See salaries and explore the career path for Market Researcher

Survey Researcher

Survey researchers use surveys to collect data from people. This course in econometrics can help survey researchers develop the skills needed to design, conduct, and analyze surveys. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for survey researchers who need to be able to understand and interpret data in order to conduct valid and reliable surveys.

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Data Scientist

Data scientists use data to build models and make predictions. This course in econometrics can help data scientists develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for data scientists who need to be able to understand and interpret data in order to build accurate models.

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Underwriter

Underwriters use data to assess risk and determine insurance premiums. This course in econometrics can help underwriters develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for underwriters who need to be able to understand and interpret data in order to make sound underwriting decisions.

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Business Analyst

Business analysts use data to solve business problems. This course in econometrics can help business analysts develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for business analysts who need to be able to understand and interpret data in order to make sound business decisions.

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Operations Research Analyst

Operations research analysts use mathematical and statistical methods to improve the efficiency of organizations. This course in econometrics can help operations research analysts develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for operations research analysts who need to be able to understand and interpret data in order to make sound decisions about how to improve organizational efficiency.

See salaries and explore the career path for Operations Research Analyst

Data Analyst

Data analysts use data to solve problems and make informed decisions. This course in econometrics can help data analysts develop the skills needed to collect, clean, and analyze data. The course covers topics such as basic statistics, simple and multiple regression, and variants of multiple regression. These topics are essential for data analysts who need to be able to understand and interpret data in order to make sound decisions.

See salaries and explore the career path for Data Analyst