Statistical Modelling for EOR

Uitgebreide vaknaam	Statistical Modelling for EOR
Leerdoelen	Upon completion of the course the student is able to: 1. Explain the most important tools to conduct preliminary data analysis; 2. Describe the most important properties of a regression model; 3. Apply regression models to economic data, using statistical software; 4. Interpret the results of a regression analysis; 5. Describe some basic actuarial science models from life insurance; 6. Give examples of the applicability of the actuarial science models to the field of insurance, mortgages and pensions; 7. Explain the most important mathematical, statistical and probabilistic techniques needed in life insurance.
Omschrijving	The focus of this course will be on tackling econometric and actuarial science problems through working with data. Students experience how applied econometric research is conducted in practice. They get acquainted with empirical research from economic journals, such as the American Economic Review, as well as research from fields other than economics, to learn about the broad applicability of econometrics. An example of a topic that might be studied is the question of how much an extra year of education increases later earnings. Students are provided with the data used in empirical studies and replicate the results of the associated publications. Moreover, they are asked to explore variants of the empirical strategies employed by the authors. Students write reports about their findings and orally present these. Students further tackle empirical problems in actuarial science and orally present their results. A block assignment asks students to compile their own data set to answer a relevant research question (with guidance by the lecturers).
Uren per week	2
Onderwijsvorm	-computer practicum,  -hoorcollege ,  -werkcollege
Toetsvorm	-groepsopdracht,  -individuele presentatie,  -schriftelijk tentamen (open vragen),  -verplichte aanwezigheid
Vaksoort	propedeuse
Coördinator	prof. dr. A.P. van Vuuren
Docent(en)	dr. K.W. Chau , S. Pichler, PhD.
Verplichte literatuur	Titel Auteur ISBN Prijs Students will be provided with relevant journal articles and conduct additional research via, e.g., the internet.
Entreevoorwaarden	Some familiarity with statistics as provided by participation in the first-year courses Probability Theory and Probability Distributions. In general, admittance to the BSc EOR is required. However, depending on, e.g., capacity, other students may be allowed to participate in some or all course activities. This is to be decided by the programme director.
Opmerkingen	Secretary: Martine Geerlings-Koolman, phone +31(0)50 36 37018, e-mail: m.a.koolman@rug.nl.
Opgenomen in	Opleiding Jaar Periode Type BSc Econometrics and Operations Research/EOR  (basisprogramma BSc EOR) 1 semester II b verplicht