Linear regression model. Ordinary least squares method.
Validation and testing of the linear regression model. Use of GRETL software package.
Autocorrelation and heteroskedasticity of the error term. Multicollinearity of the explanatory variables.
Econometric prediction. Point and interval prediction. Mean error of prediction ex ante, errors ex post. Exponential smoothing.
Nonlinear models. Linearized models. Production and consumption functions. Marginal measures. Substitution.
Models of qualitative variables. Linear probability model, logit model, probit model, tobit model.
Time series econometrics. ARIMA models. Stationarity of time series. Integration of time series.
Time series econometrics (cont' d.). Cointegration. Distributed lags models. Error correction model.
Input-output balance. Major input-output macroeconomic indices. Leontief model.
Macroeconomic models. Multi-equation models. Applied general equilibrium models.
Decision problem. Optimization model. Linear optimization problem. Graphical method of solving LP model. Properties of LP models.
Main types of optimization problems: product mix, diet, transportation problem, investment portfolio etc. Application of SOLVER from Excel spreadsheet.
Post-optimization analysis.
Model of multi-activity project. Critical path method.
Computer simulation of queuing systems and inventory control models.
|