Econometrics (exam questions) EITA and ERASMUS

1. Describe properties of error term in OLS context.

2. Specify all stages of econometric modelling describe chosen stage.

3. Explain the difference between spatial and time series data.

4. Is there a difference between econometric modelling and building of econometric model?

5. Describe the difference between selection and choice of explanatory variable.

6. Discuss the idea of Hellwigs method.

7. Mention methods of functional relationship choice describe chosen method.

8. Describe the idea of OLS.

9. Cite and discuss the Gauss-Markov Theorem.

10. Describe elements of formula of OLS estimator (expressed in matrix form).

11. Specify measures and tests of model verification discuss chosen one.

12. Explain the meaning of coefficient of determination.

13. Give an interpretation of estimates of parameters of linear model.

14. Discuss the problem of statistical significance of structural parameters.

15. Discuss the problem of autocorrelation of residuals.

16. Name the reasons of autocorrelation of residuals.

17. Name the effects of autocorrelation of residuals.

18. Discuss the occurrence of heterogeneity of disturbance term.

19. Describe the problem of multicollinearity of independent variables.

20. How we can transform Cobb-Douglas production function into group productivity function?

21. Distinguish any trend function and describe its coefficients.

22. Cite the definition of forecasting.

23. Explain the rule of unbiased prediction.

24. Specify assumptions of econometric prediction (forecasting).

25. Discuss chosen assumption of econometric prediction (forecasting).

26. Mention methods of determination of values of explanatory variables in prediction horizon.

27. Describe the error of prediction accuracy (error ex ante)

28. Describe the error of forecast relevance (error ex post)

29. What can we say about functional relationship in case of OLS method?

30. Discuss assumptions of OLS.

31. What is the main goal of verification of econometric model?

32. Describe the difference between regression of I and II type.

33. Explain the phenomenon of stability of econometric model as one of prediction assumption.

34. Explain the meaning of linearization of econometric model.

35. What kind of statistical regularities do you know?

36. Deliver an example of structural statistical regularity.

37. Deliver an example of statistical regularity of dynamics.

38. Deliver an example of statistical regularity of dependency in time.

39. Deliver an example of statistical regularity of dependency in space.

40. Provide the definition of an econometric model.

41. Describe the structure of econometric model.

42. Classify variables that occur in econometric models.

43. What are the reasons of error term occurrence in an econometric model?

44. Write and characterize Cobb-Douglas production function.

45. Discuss possible applications of Cobb-Douglas production function.

46. Describe how we can assess the type of scale effects using Cobb-Douglas production function.

47. Explain the difference between positive (increasing) and negative (decreasing) returns to scale.

48. Is there any difference between economic and econometric models?

49. Describe the idea of Durbin-Watson test.

50. Describe criteria of explanatory variables specification.

51. What is the main effect if we omit relevant explanatory variable?

52. Explain the differences between observed and fitted value of dependent variable.

53. How do we calculate residuals?

54. Explain unbiasedness of estimators of structural parameters (coefficients).

55. Explain consistency of estimators of structural parameters (coefficients).

56. Explain the idea of restricted model.

57. Describe the difference between point and interval forecast.