Econometrics Training Service


How is the training provided?


Cambridge Econometrics offers four standard econometrics courses based around a training roadmap using the EViews software:

  • Introduction to Econometrics
  • Time Series Econometrics
  • Microeconometrics
  • Panel Data Econometrics
Although in principal a participant can take the courses in any order, they are designed to build upon one another and gradually increase in technical difficulty.

  • The Introduction to Econometrics course is designed for people with a basic knowledge of statistics but probably very little econometrics, and introduces topics in both time series and microeconometrics.
  • The Time Series Econometrics and Microeconometrics courses are both aimed at intermediate level (some background knowledge / previous econometrics training) and build upon the topics covered in the Introduction to Econometrics course.
  • Finally, the Panel Data Econometrics course combines elements from both Microeconometrics and Time Series Econometrics to cover a more advanced set of topics, finishing up by looking at leading-edge developments in the field.

In addition to the training roadmap described above, Cambridge Econometrics offer a more policy-based course called Econometric Model Assessment. The purpose of this course is to look at various econometric modelling approaches and assess them from the point of view of the 'intelligent consumer', ie a policy maker who is commissioning work and wants to understand, interpret, and question the results in a constructive manner. This course is typically bespoke, as the topics covered often depend on the client's interests, and is organised on a group basis (ie for specific organisations), so please contact us if you are interested in this type of training.

Cambridge Econometrics also offers a combined (elements of micro and panel data) three-day econometrics course using the Stata software.


Structure

The EViews and Stata-based courses are a mixture of three types of session:

  • theory sessions help to explain the techniques and the underlying principles behind them, with the focus as much as possible on the intuition behind the method rather than the algebra;
  • class examples help to reinforce the theory sessions, with the course presenter demonstrating worked examples to the participants;
  • hands-on sessions allow participants to actively practice the techniques by going through a set of pre-prepared examples with a full set of solutions to refer to if needed.

The outlines for each course are shown below:

Attendance

The courses can be run one of three ways: public attendance, group-based, or remote.

Public attendance
CE maintains a list of individuals registering interest in attending its various courses. The minimum number of participants is 6, and when this threshold is reached CE will contact people to check availability and then arrange a course date that all participants can make. If you are interested, please get in touch to put your name down on a list.

Group-based
If you consider you have sufficient people within your organisation to run a group course (we have run courses for as few as three people) then get in touch and we can discuss your specific needs, as it may be that a bespoke provision, eg using your own data, would be more beneficial than a public attendance course.

Remote
Through a combination of pdf files and email/telephone support, an individual works their way through the course material, hands-on exercises and solutions at their own computer and at their own pace. Note - please enquire about availability as not all courses are, as yet, available through this medium.

Duration and price

Public attendance
All public attendance Eviews-based courses are two days in length and cost £900 + VAT per participant, while the three-day Stata course costs £1350 + VAT per participant, payable in advance. The cost includes provision of room hire with a PC per participant (with the relevant econometrics software pre-installed), course materials (folder, course data and hands-on materials) and refreshments (lunch, coffee/tea) over the duration of the course. The software is not included in the course price.

Group-based
Group-based courses tend to be more bespoke in nature, either due to the topics covered, data used, location and/or duration, and so it is best to contact Cambridge Econometrics and discuss your specific requirements, after which an overall costing can be worked out.

Remote
These courses can be run at a more relaxed pace to suit the availability of the participant and trainer, but we would usually recommend a maximum period of 1-2 weeks to complete the training otherwise things get too spread out. The price for these courses is £800 + VAT, but the participant would need to have the relevant econometrics software already installed on their machine.

Location

Public attendance
Public attendance courses are usually run at the Training Room Hire Company, located at Asra House near Borough Tube Station (see http://www.trainingroomhire.co.uk/). Cambridge Econometrics reserves the right to change the location of the course if circumstances dictate.

Group-based
These can also be run at the Training Room Hire Company, or directly at your organisation if you have sufficient facilities (eg a training room, spare computers) to cope with the course logistics.

Remote
By its nature, this type of course can be taken by the participant at their own desk using their own computer, as long as the software proviso is followed.

Software

All courses use the menu-driven version of EViews and STATA to demonstrate techniques and reinforce the lecture-style learning sessions through the use of practical hands-on examples. For the public attendance and group-based courses CE will supply a temporary license to use the relevant software for the course duration, although if you already have the software on your own laptops / computers this could be an advantage.


 

 

 

Outline of Econometric Courses

Introduction to Econometrics

Day 1 Day 2
Introduction to economic modelling

OLS (assumptions and violations)
Hands-on session

Introduction to statistical concepts and data analysis
Hands-on session

Applied OLS (Microeconometrics)
Hands-on session

OLS (properties and related statistics)
Hands-on session

Applied OLS (time series)
Hands-on session

Course review

Time Series Econometrics

Day 1 Day 2
Review of key concepts
Single-equation cointegration techniques
Hands-on session
Data analysis techniques
Hands-on session
Multiple-equation cointegration techniques
Hands-on session

Univariate modelling
Hands-on session

Course review

 

Structural modelling
Hands-on session

Microeconometrics

Day 1 Day 2
Review of key concepts
Limited / censored dependent variables
Hands-on session
Data analysis techniques
Hands-on session
Introduction to panel techniques
Hands-on session
Policy analysis
Hands-on session

Course review

Dealing with endogeneity
Hands-on session

Panel Data Econometrics

Day 1 Day 2
Review of key concepts
Hands-on session
Dynamic panel estimation
Hands-on session
Panel data analysis
Hands-on session
Time series panel estimation
Hands-on session
Unobserved effects panel data estimation
Hands-on session

Course review

Econometrics with Stata
Day 1 Day 2 Day 3

Review of key concepts
Data analysis techniques
Hands-on session
Policy analysis
Hands-on session
Dealing with endogeneity
Hands-on session

Limited / censored dependent variables
Hands-on session
Unobserved effects panel model
Hands-on sessions

Dynamic panel estimation
Hands-on session
Time series panel estimation
Hands-on session
Course review

 

 


 

For further information, including prices, and to order our services, email:
Ben Gardiner
Director