Introduction to Econometric Modelling with OX Metrics 8

This course offered at IRES provides participants with a foundational understanding of econometric modeling using OxMetrics 8, a sophisticated software suite designed for time series analysis, forecasting, and econometrics.

Participants will learn the key principles of econometric modeling and how to implement these concepts using OxMetrics 8.

The course emphasizes practical application, allowing participants to work with real-world datasets and apply various econometric techniques for analysis and forecasting.

Through hands-on exercises and case studies, participants will enhance their ability to utilize OxMetrics 8 for effective econometric modeling.

Course Duration
5 Days

Who Should Attend

1. Economists
2. Financial analysts
3. Researchers in econometrics
4. Graduate students in economics and finance
5. Data analysts interested in advanced modeling techniques

Personal Impact

1. Acquire proficiency in using OxMetrics 8 for econometric modeling and analysis.
2. Develop critical skills in interpreting econometric results and applying them to real-world scenarios.
3. Enhance your ability to conduct rigorous analysis and produce reliable forecasts.

Organizational Impact

1. Improve the organization’s capacity for evidence-based economic analysis and decision-making.
2. Strengthen the analytical capabilities within the organization through advanced econometric techniques.
3. Foster a culture of rigorous data analysis and modeling in economic research and policy formulation.

Course Objectives:
By the end of this course, participants will be able to:

1. Understand the fundamental concepts of econometric modeling.
2. Utilize OxMetrics 8 for building, estimating, and interpreting econometric models.
3. Conduct hypothesis testing and model diagnostics using appropriate techniques.
4. Apply various econometric methods to real-world data for analysis and forecasting.
5. Develop the skills necessary to present econometric findings effectively.

Course Outline

Module 1: Introduction to Econometrics and OxMetrics 8

1. Overview of econometric concepts and modeling techniques
2. Introduction to OxMetrics 8: features, interface, and functionalities
3. Importing and managing data in OxMetrics 8
4. Practical Exercise: Setting up a project and importing datasets

Module 2: Basic Econometric Techniques

1. Understanding linear regression models and assumptions
2. Estimating models using Ordinary Least Squares (OLS)
3. Conducting hypothesis testing and interpreting regression results
4. Practical Exercise: Building and estimating a simple linear regression model in OxMetrics 8

Module 3: Time Series Analysis

1. Characteristics of time series data and its implications for modeling
2. Conducting unit root tests and examining stationarity
3. Estimating ARIMA models for forecasting time series data
4. Case Study: Forecasting economic indicators using time series analysis in OxMetrics 8
5. Practical Exercise: Implementing ARIMA models on real-world datasets

Module 4: Advanced Econometric Methods

1. Exploring multivariate regression and simultaneous equations models
2. Conducting cointegration analysis and error correction models (ECM)
3. Implementing Generalized Method of Moments (GMM) estimation
4. Practical Exercise: Estimating a cointegrated model in OxMetrics 8

Module 5: Model Evaluation and Application

1. Evaluating model performance and conducting diagnostics
2. Applying econometric models to policy analysis and forecasting
3. Real-life Project: Developing an econometric model for a specific research question and presenting findings

Related Courses

1. Performance Based Budgeting Training Course
2. Microeconometrics Training Course
3. Time Series Data Analysis and Modelling using Stata Training Course
4. Performance Management and Appraisal Training Course
5. Public Sector Governance and Budgetary Reforms Training Course
6. Program and Budget Analysis Using Microsoft Excel Training Course

Course Administration Details

Methodology

The instructor-led trainings are delivered using a blended learning approach and comprise presentations, guided sessions of practical exercise, web-based tutorials, and group work.

Our facilitators are seasoned industry experts with years of experience, working as professionals and trainers in these fields.

All facilitation and course materials will be offered in English. Therefore, the participants should be reasonably proficient in English.

Accreditation

Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).

Training Venue

The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch.

In addition to our training in Kenya (Nairobi, Mombasa, Kisumu, Naivasha, and Nakuru), we conduct training in the following locations:

1. Dubai - United Arab Emirates
2. Cairo - Egypt
3. Cape Town, Pretoria, and Johannesburg - South Africa
4. Dar-es-Salaam, Zanzibar, and Arusha - Tanzania
5. Kigali - Rwanda
6. Accra - Ghana
7. Kampala - Uganda

Accommodation and Airport Transfer

Accommodation and airport transfer can be arranged upon request.

For reservations, kindly contact us on the following:

• Email: [email protected]
• Phone: +254715 077 817

Tailor-Made Program

This training can also be customized to suit the needs of you or your institution upon request.

You can have it delivered in our IRES Training Centre or at a convenient location.

For further inquiries, please contact us on:

• Email: [email protected]
• Phone: +254715 077 817