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table of contents


Through a policy evaluation exercise, this mini-course will review the relevant concepts of probability and statistics (specifically, random sample, random variable, probability distribution function, conditional probability, and the expectation operator). The course will then study the statistical models often used to test theoretical economic relationships, analyse historical economic events, and evaluate policy. Simple and multiple regression using ordinary least squares will be covered in detail. The course will cover basic statistical inference and diagnostic tools for these models. Maximum likelihood and generalised least squares estimation techniques will be introduced. Time-allowing, the course will cover an introduction to the logistic regression model to handle discrete or qualitative choice variables (e.g., Yes/No choice scenarios) and basic time-series analyses.