Economists use information from agencies, institutions, and corporations in the public and private sectors. The information comes in three forms: time series, cross section and panel data. Time series data describe the movement of a variable over time, and may have annual, semiannual, quarterly, monthly, weekly, or even daily periodicity. The cross-sectional data describe the activities of individuals, companies, countries or other units at a given moment in time. Finally, the panel data combines the previous two, that is, describes the activities of each of the members of the same group of people, companies, countries or other units over time. This course examines three general classes of models that can be constructed from this information for forecasting purposes or policy analysis: time series models, limited dependent variable models, and panel data models. Each of these models involves a different degree of complexity and assumes a different level of understanding about the processes that are trying to be modeled.
Subject Typology: Compulsory
Credits: 4
New code: 60110043