Econometrics: Methods and Applications from Coursera

Welcome!

Do you wish to know how to analyze and solve business and economic questions with data analysis tools? Then Econometrics by Erasmus University Rotterdam is the right course for you, as you learn how to translate data into models to make forecasts and to support decision making.

* What do I learn?

When you know econometrics, you are able to translate data into models to make forecasts and to support decision making in a wide variety of fields, ranging from macroeconomics to finance and marketing. Our course starts with introductory lectures on simple and multiple regression, followed by topics of special interest to deal with model specification, endogenous variables, binary choice data, and time series data. You learn these key topics in econometrics by watching the videos with in-video quizzes and by making post-video training exercises.

* Do I need prior knowledge?

The course is suitable for (advanced undergraduate) students in economics, finance, business, engineering, and data analysis, as well as for those who work in these fields. The course requires some basics of matrices, probability, and statistics, which are reviewed in the Building Blocks module. If you are searching for a MOOC on econometrics of a more introductory nature that needs less background in mathematics, you may be interested in the Coursera course “Enjoyable Econometrics” that is also from Erasmus University Rotterdam.

* What literature can I consult to support my studies?

You can follow the MOOC without studying additional sources. Further reading of the discussed topics (including the Building Blocks) is provided in the textbook that we wrote and on which the MOOC is based: Econometric Methods with Applications in Business and Economics, Oxford University Press. The connection between the MOOC modules and the book chapters is shown in the Course Guide – Further Information – How can I continue my studies.

* Will there be teaching assistants active to guide me through the course?

Staff and PhD students of our Econometric Institute will provide guidance in January and February of each year. In other periods, we provide only elementary guidance. We always advise you to connect with fellow learners of this course to discuss topics and exercises.

* How will I get a certificate?

To gain the certificate of this course, you are asked to make six Test Exercises (one per module) and a Case Project. Further, you perform peer-reviewing activities of the work of three of your fellow learners of this MOOC. You gain the certificate if you pass all seven assignments.

Have a nice journey into the world of Econometrics!

The Econometrics team

What's inside

Syllabus

Welcome Module

Welcome! Do you wish to know how to analyze and solve business and economic questions with data analysis tools? Then Econometrics by Erasmus University Rotterdam is the right course for you, as you learn how to translate data into models to make forecasts and to support decision making. What do I learn? When you know econometrics, you are able to translate data into models to make forecasts and to support decision making in a wide variety of fields, ranging from macroeconomics to finance and marketing. Our course starts with introductory lectures on simple and multiple regression, followed by topics of special interest to deal with model specification, endogenous variables, binary choice data, and time series data. You learn these key topics in econometrics by watching the videos with in-video quizzes and by making post-video training exercises. Do I need prior knowledge? The course is suitable for (advanced undergraduate) students in economics, finance, business, engineering, and data analysis, as well as for those who work in these fields. The course requires some basics of matrices, probability, and statistics, which are reviewed in the Building Block module. If you are searching for a MOOC on econometrics of a more introductory nature that needs less background in mathematics, you may be interested in the Coursera course “Enjoyable Econometrics” that is also from Erasmus University Rotterdam. Will there be teaching assistants active to guide me through the course? We advise you to connect with fellow learners of this course to discuss topics and exercises. Staff of our Econometric Institute provides guidance in January and February of each year. How will I get a certificate? To gain the certificate of this course, you are asked to make six Test Exercises (one per module) and a Case Project. Further, you perform peer-reviewing activities of the work of three of your fellow learners of this MOOC. You gain the certificate if your average grade score is at least 50%. Have a nice journey into the world of Econometrics! The Econometrics team

Simple Regression

Multiple Regression

Model Specification

Endogeneity

Binary Choice

Time Series

Case Project

This Case Project is the final assignment of our MOOC. It is of an applied nature, and it asks you to answer practical questions by means of econometric methods. By doing the case, you will integrate various econometric methods and skills that were trained in our MOOC.

OPTIONAL: Building Blocks

By studying this module, you get the required background on matrices, probability and statistics. Each topic is illustrated with simple examples, and you get hands-on training by doing the training exercise that concludes each lecture. Three lectures on matrices show you the basic terminology and properties of matrices, including transpose, trace, rank, inverse, and positive definiteness. Two lectures on probability teach you the basics of univariate and multivariate probability distributions, especially the normal and associated distributions, including mean, variance, and covariance. Finally, two lectures on statistics present you with the basic ideas of statistical inference, in particular parameter estimation and testing, including the use of matrix methods and probability methods.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops skills used by professionals in business, economics, finance, engineering, and data analysis

Provides a strong foundation for beginners and an existing foundation for intermediate learners

Taught by a team of experts from Erasmus University Rotterdam, who are recognized for their work in econometrics

Certificate is earned through assessments and peer-reviews, ensuring engagement

Provides a comprehensive study of econometrics

Students should have a basic understanding of matrices, probability, and statistics

Reviews summary

Well-received introduction to econometrics

Learners say this course provides a large body of knowledge on econometrics, consisting of a variety of topics and techniques. They appreciate how the instructors clearly present the material and connect concepts to real-world examples. The readings, assignments, and exercises are regarded as valuable learning tools, though some learners would prefer more examples and detailed explanations. Overall, students highly recommend this course to those with an interest in practicing or applying econometric methods and models.

Well-organized course with clear explanations.

"Excellent course. I really enjoyed it."

"The instructors were really good and it is worth joining this course if you really love Economics and want to learn something new to the field."

"This course is both theoretically and practically complete and sound for the topic, giving really good background in it."

Challenging assignments enhance learning.

"There were plenty of exercises which were well balanced between application and theory."

"Optional homeworks are well-designed interesting to solve, and they too are quite helpful for the respective final assignment of each week."

"Use of real datasets made the learning experience so much rich."

Could benefit from more practical applications.

"This course is poorly taught, leaving out almost all intuition of what's going."

"The explanations are poor."

"The slides are sometimes quite unclear."

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 Econometrics: Methods and Applications with these activities:

Review basic statistics concepts

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Strengthen foundational skills in statistics, which are essential for econometrics.

Browse courses on Statistics

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Review notes or textbooks on basic statistics
Solve practice problems to reinforce concepts

Seek guidance from experienced econometricians

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Gain insights and support from experts in the field.

Browse courses on Econometrics

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Identify potential mentors through networking events or online platforms
Reach out and request mentorship
Schedule regular meetings or check-ins to discuss progress and challenges

Answer questions in the course forum

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Reinforce understanding by helping others and fostering a supportive learning community.

Browse courses on Econometrics

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Regularly check the course forum
Identify questions that you can answer
Provide thoughtful and detailed responses

Five other activities

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Show all eight activities

Read 'Econometric Analysis of Cross Section and Panel Data'

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Expand understanding of econometric methods and techniques.

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Purchase or borrow the book
Read the assigned chapters
Take notes and highlight important concepts

Take practice tests

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Increase understanding of econometric techniques and reinforce learning.

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Review lecture notes and materials
Attempt practice test questions
Check answers and identify areas for improvement

Join a study group

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Create camaraderie among other learners and increase retention by meeting regularly with others taking the course.

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Watch tutorials on econometric software

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Develop proficiency in using econometric software for data analysis.

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Identify tutorials for relevant software (e.g., Stata, R)
Watch the tutorials and follow along with the examples
Practice using the software on your own

Conduct a small-scale econometric analysis project

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Apply econometric knowledge and skills to a real-world problem.

Browse courses on Econometrics

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Identify a research question and collect data
Choose appropriate econometric methods and analyze the data
Interpret the results and write a report

Career center

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

Econometrician

Econometricians analyze economic data to develop tools and forecasting models that help businesses and organizations make informed decisions. This course provides a solid foundation in econometrics methods and applications, helping you develop the skills needed to succeed in this field. You'll learn about simple and multiple regression, model specification, endogeneity, binary choice, and time series, all of which are essential concepts for econometricians.

See salaries and explore the career path for Econometrician

Data Analyst

Data Analysts use data to solve business problems and make better decisions. This course will help you develop the skills needed to extract insights from data using econometric methods. You'll learn how to clean, prepare, and analyze data, as well as how to build and interpret econometric models. This knowledge will be invaluable in a variety of industries, including finance, healthcare, and marketing.

See salaries and explore the career path for Data Analyst

Financial Analyst

Financial Analysts use econometric methods to evaluate investments and make recommendations to clients. This course will help you build a strong foundation in econometrics and provide you with the skills needed to succeed in this field. You'll learn about financial modeling, risk assessment, and portfolio management, all of which are essential concepts for financial analysts.

See salaries and explore the career path for Financial Analyst

Market Researcher

Market Researchers use econometric methods to understand consumer behavior and market trends. This course will help you develop the skills needed to collect, analyze, and interpret data in order to make informed decisions about marketing strategies. You'll learn about market segmentation, product testing, and forecasting, all of which are essential concepts for market researchers.

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Quantitative Analyst

Quantitative Analysts use econometric methods to develop trading strategies and manage risk. This course will help you build a strong foundation in econometrics and provide you with the skills needed to succeed in this field. You'll learn about financial modeling, risk assessment, and portfolio management, all of which are essential concepts for quantitative analysts.

See salaries and explore the career path for Quantitative Analyst

Business Analyst

Business Analysts use data analysis to improve business processes and make better decisions. This course will help you develop the skills needed to collect, analyze, and interpret data in order to make informed recommendations. You'll learn about data mining, process mapping, and cost-benefit analysis, all of which are essential concepts for business analysts.

See salaries and explore the career path for Business Analyst

Statistician

Statisticians use econometric methods to analyze data and draw conclusions. This course will help you develop the skills needed to collect, analyze, and interpret data in order to make informed decisions. You'll learn about probability, inference, and regression analysis, all of which are essential concepts for statisticians.

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Risk Analyst

Risk Analysts use econometric methods to assess and manage risk. This course will help you build a strong foundation in econometrics and provide you with the skills needed to succeed in this field. You'll learn about risk assessment, portfolio management, and financial modeling, all of which are essential concepts for risk analysts.

See salaries and explore the career path for Risk Analyst

Actuary

Actuaries use econometric methods to assess and manage financial risk. This course will help you develop the skills needed to succeed in this field. You'll learn about insurance, risk management, and financial modeling, all of which are essential concepts for actuaries.

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Research Analyst

Research Analysts use econometric methods to evaluate investments and make recommendations to clients. This course will help you develop the skills needed to succeed in this field. You'll learn about financial modeling, risk assessment, and portfolio management, all of which are essential concepts for research analysts.

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Consultant

Consultants use econometric methods to solve business problems and make better decisions. This course will help you develop the skills needed to collect, analyze, and interpret data in order to make informed recommendations. You'll learn about data mining, process mapping, and cost-benefit analysis, all of which are essential concepts for consultants.

See salaries and explore the career path for Consultant

Data Scientist

Data Scientists use econometric methods to extract insights from data. This course will help you develop the skills needed to collect, clean, and analyze data in order to make informed decisions. You'll learn about machine learning, statistical modeling, and data visualization, all of which are essential concepts for data scientists.

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Software Engineer

Software Engineers use econometric methods to develop software solutions for a variety of industries. This course will help you develop the skills needed to apply econometrics to software development. You'll learn about data structures, algorithms, and software design, all of which are essential concepts for software engineers.

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Economist

Economists use econometric methods to analyze economic data. This course will help you develop the skills needed to collect, analyze, and interpret data in order to make informed decisions about economic policy. You'll learn about macroeconomic modeling, microeconomic theory, and econometrics, all of which are essential concepts for economists.

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Financial Planner

Financial Planners use econometric methods to help clients make informed decisions about their finances. This course will help you develop the skills needed to analyze financial data and make recommendations to clients. You'll learn about investment planning, retirement planning, and risk management, all of which are essential concepts for financial planners.

See salaries and explore the career path for Financial Planner