Econometrics is the study of estimation and inference for economic models using economic data. Econometric theory concerns the study and development of tools and methods for applied econometric applications. Applied econometrics concerns the application of these tools to economic data.
A First Course in Linear Algebra is an introductory textbook aimed at college-level sophomores and juniors. Typically such a student will have taken calculus, but this is not a prerequisite. The book begins with systems of linear equations, then covers matrix algebra, before taking up finite-dimensional vector spaces in full generality. The final chapter covers matrix representations of linear transformations, through diagonalization, change of basis and Jordan canonical form. Along the way, determinants and eigenvalues get fair time.
Focus on multivariate data analysis procedures, emphasizing regression. Considers model specification, autocorrelation, instrumental variables, and causal modelling. Students must have taken at least one previous subject in statistics. Open to qualified undergraduates. Course home page description: This course is the second semester in the statistics sequence for political science and public policy offered in the Political Science Department at MIT. The intellectual thrust of the course is a presentation of statistical models for estimating causal effects of variables. The model of an effect is a conditional mean (though we might imagine other effect). The notion of causality is the effect of one variable on another holding all else constant.
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