Econometrics I

with Professor Gerhard Kling

Learn Econometrics the Practical Way – Hands-On Python Skills for Real-World Data Analysis and Modeling

2 hours of content 58 students
Start for Free

What you get:

  • 2 hours of content
  • 5 Interactive exercises
  • 8 Coding exercises
  • 30 Downloadable resources
  • World-class instructor
  • Closed captions
  • Q&A support
  • Future course updates
  • Course exam
  • Certificate of achievement

Econometrics I

A course by Professor Gerhard Kling
Start for Free

What you get:

  • 2 hours of content
  • 5 Interactive exercises
  • 8 Coding exercises
  • 30 Downloadable resources
  • World-class instructor
  • Closed captions
  • Q&A support
  • Future course updates
  • Course exam
  • Certificate of achievement

$99.00

Lifetime access

Buy now
Start for Free

What you get:

  • 2 hours of content
  • 5 Interactive exercises
  • 8 Coding exercises
  • 30 Downloadable resources
  • World-class instructor
  • Closed captions
  • Q&A support
  • Future course updates
  • Course exam
  • Certificate of achievement

What You Learn

  • Python for Econometric Analysis
  • Data wrangling
  • Descriptive analysis, including outlier detection
  • Regression analysis
  • Testing for violations of model assumptions
  • Panel data models
  • Binary choice models
  • Model specification
  • Linking theory and empirical models

Top Choice of Leading Companies Worldwide

Industry leaders and professionals globally rely on this top-rated course to enhance their skills.

Course Description

The introduction provides a concise overview of the course's aims and scope. The course is self-contained, including a brief introduction to Python with a focus on Pandas. Then we move into Data Wrangling, focusing on data imports, merging and transformations. Then, we explore our data using Descriptive Analysis. Section 5 introduces Regression Analysis. We will learn that many assumptions are made in the process of regression analysis. Section 6 explores violations of assumptions, including Heteroskedasticity and endogeneity. Tests and methods to address the issues are discussed in detail. Section 7 introduces panel data models, including fixed and random effects. Then, we move on to binary choice models, i.e., explaining yes-or-no events or decisions. We conclude with a section on model specification and parameter stability.

After completing this course, you will be able to use Python for Econometric Analysis with confidence. You will develop a solid understanding of applied Econometrics, including data wrangling, outlier detection, and regression analysis.

This course will be more than sufficient for most applied work. I promise that it is highly applied and provides hands-on experience with numerous practical applications. Enjoy the Joy of Econometrics!

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Getting started

1.1 Getting started

1 min

Your instructor

1.2 Your instructor

1 min

Learning objectives

1.3 Learning objectives

1 min

Course overview

1.4 Course overview

2 min

What is Econometrics?

1.5 What is Econometrics?

1 min

Machine learning vs Econometrics

1.6 Machine learning vs Econometrics

1 min

Curriculum

  • 1. Introduction
    6 Lessons 7 Min

    We discuss the learning objectives and the course structure, followed by an introduction to Econometrics.  The differences between Econometrics and machine learning methods underscore the importance of theoretical foundations.

    Getting started Read now
    1 min
    Your instructor
    1 min
    Learning objectives Read now
    1 min
    Course overview Read now
    2 min
    What is Econometrics?
    1 min
    Machine learning vs Econometrics
    1 min
  • 2. Python - Refresher
    10 Lessons 14 Min

    This section provides a beginner-friendly introduction to Python with a focus on data handling and analysis using Pandas. If you are familiar with Python, you may skip this section.

    Installation Read now
    1 min
    IDEs: A step-by-step guide
    2 min
    Variables, types and assignment Read now
    1 min
    Lists Read now
    1 min
    Arrays Read now
    1 min
    Loops Read now
    1 min
    Contingent behaviour Read now
    2 min
    Functions Read now
    1 min
    Object-oriented programming Read now
    2 min
    Pandas Read now
    2 min
  • 3. Data Wrangling
    6 Lessons 14 Min

    Handling data is a crucial step in Econometrics. We focus on data structures, merging, and identifiers.

    What will you learn? Read now
    1 min
    Where to start?
    1 min
    Data structures
    4 min
    Missing values Read now
    2 min
    Merging Read now
    3 min
    Sampling and variables Read now
    3 min
  • 4. Descriptive Analysis
    4 Lessons 9 Min

    It is essential to detect outliers that bias your empirical models. Additionally, we need to understand how to handle missing values.

    Data is everything Read now
    1 min
    Summary statistics Read now
    4 min
    Outliers
    2 min
    Transformations
    2 min
  • 5. Regression Analysis
    5 Lessons 12 Min

    Regression analysis is the predominant tool in Econometrics. We provide a detailed introduction to OLS estimation and interpretation of results.

    Regressions - things you must know Read now
    1 min
    How do regressions work?
    7 min
    Illustration of OLS Read now
    1 min
    Implementation in Python Read now
    2 min
    Regression tables Read now
    1 min
  • 6. Post Estimation Analysis
    9 Lessons 14 Min

    In regression analysis, several assumptions are made that need to be tested. This section provides solutions for addressing many standard model assumption violations.

    The fun starts after regressions Read now
    1 min
    Let's assume Read now
    3 min
    Multicollinearity
    1 min
    How to detect multicollinearity? Read now
    1 min
    How to fix multicollinearity? Read now
    1 min
    Heteroskedasticity
    1 min
    Omitted variables or non-linearity
    1 min
    Endogeneity
    2 min
    Post estimation analyses in Python Read now
    3 min
  • 7. Panel Data
    7 Lessons 10 Min

    This section covers fixed and random effects, as well as the Hausman test, which is used to distinguish between these two specifications.

    The power of panel data Read now
    1 min
    Introduction to panel data
    2 min
    The fixed and random effects model Read now
    2 min
    Fixed or random effects
    1 min
    Serial correlation
    1 min
    The Hausman test in Python Read now
    1 min
    Interaction effects
    2 min
  • 8. Binary Choice Models
    5 Lessons 10 Min

    To capture yes-no decisions or events, we require a different set of tools. This section covers Maximum-Likelihood estimation, model predictions, and validation.

    How to handle binary outcomes? Read now
    1 min
    Logistic regression
    3 min
    Predicting default risk Read now
    3 min
    Assessing model predictions Read now
    2 min
    Download file Read now
    1 min
  • 9. Model Specification
    5 Lessons 10 Min

    How do we know that our empirical model is the best? Well, we need to test. This section covers various techniques used in selecting the optimal model.

    How to find the 'best' model? Read now
    1 min
    The 'best model'
    4 min
    Parameter stability
    1 min
    Predicting stock returns Read now
    3 min
    Your journey Read now
    1 min

Topics

Regression AnalysisEconometricsData AnalysisFinance Theory

Tools & Technologies

python
theory

Course Requirements

  • Basic Knowledge of Economics
  • Basic Excel Skills

Who Should Take This Course?

Level of difficulty: Beginner

  • Anyone who wants to pursue quantitative jobs in Finance and Economics that rely on econometric modelling.
  • Data analysts who want to enhance their skills in linking theory and empirical models, which are often lacking in machine-learning courses.
  • Finance professionals who want to understand the underlying drivers of economic and financial outcomes.

Exams and Certification

A 365 Financial Analyst Course Certificate is an excellent addition to your LinkedIn profile—demonstrating your expertise and willingness to go the extra mile to accomplish your goals.

Exams and certification

Meet Your Instructor

Professor Gerhard Kling

Professor Gerhard Kling

Chair in Finance at

2 Courses

0 Reviews

58 Students

I am a Chair in Finance at the University of Aberdeen with 20 years of experience in higher education, having previously held positions at SOAS, the University of Southampton, UWE, and Utrecht University. As a Practice Specialist in Corporate Finance at McKinsey & Company, I primarily focused on firm valuation and mergers and acquisitions (M&As). Since January 2022, I have served as the Director and Secretary of YUNIKARN LTD, an educational content creation and consulting firm. The company’s YouTube channel, YUNIKARN, offers free courses in data science using Python and Stata. I have provided consulting services for notable organizations, including McKinsey & Company (2007–2010), HMRC (2012–2015), Industrial Bank (China) (2013), Brunello Cucinelli (2018), China State Shipbuilding Corporation (2019), the Third Bureau of Supervision of SASAC (2019), and the Economic Research Institute for ASEAN and East Asia (ERIA) (2021–2022). With a background in economics (PhD, BSc/MSc), mathematics (BSc/MSc), and programming (Python, C/C++, MATLAB, Stata, etc.), I specialize in machine learning (ML), artificial intelligence (AI), and their applications in FinTech. I have acted as principal or co-investigator on several large-scale projects, including initiatives in FinTech (ESRC-NSFC: GBP 0.5 million), IoT (FP7: EUR 2.6 million), and satellite technology (FP6: EUR 11.9 million).

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