Econometrics: Changing units of measurement

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Shubham Kalra

2:44:09

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1. Introduction

1. Who am I and what to expect from this course.mp4

01:37

2. Quick Overview of Properties

1. Properties of Covariance.mp4

19:10

2. Properties of Expected Values.mp4

08:18

3. Properties of Variance.mp4

12:54

3. Scaling - Changing Units of Measurement

1. Get comfortable with equations and formulas.mp4

06:13

2. Transformation of Slope Estimator.mp4

05:09

3. Transformation of Intercept Estimator.mp4

08:24

4. Transformation of R2.mp4

08:50

5. Transformation of Standard Error of Regression (SER).mp4

08:05

6. Alternative Method - Works with Multiple Linear Regression as well.mp4

13:40

4. Practice Questions

1. Question 1.mp4

22:43

2. Question 2.mp4

10:36

3. Question 3.mp4

13:37

4. Question 4.mp4

03:35

5. Question 5.mp4

07:09

6. Question 6.mp4

14:09

Description

How changing units of variables affect the estimated regression coefficients and other measures

What You'll Learn?

Properties of Expected Values, Variance, Covariance
How changing the unit of the variables affect the regression coefficients (intercept and slope)
Step by step transformation of regression coefficients, R2 and SER
Alternative transformation method for Multiple Linear Regression

Who is this for?

University Students taking Econometrics at Undergraduate Level

What You Need to Know?

Basic understanding of Simple Linear Regression

More details

Description
This Econometrics course covers the concept of Scaling - Changing Units of Measurement.

What is this concept of Scaling?

Think of it in this manner:

Let's say you are working with 2 variables - Weight and Height, where, Weight is measured in Kilograms and Height is measured in inches. When you run a regression of Weight on Height, you get the estimated intercept to be -79.24 and the estimated slope to be 4.16.

Now, if you decide to change the unit of Weight from kilograms to pounds or the unit of Height from inches to centimeter, then how will the estimated intercept and slope change?

And that's exactly what you are going to learn in this course!

Structure of the course:
Quick overview of properties of Expected values, Covariance and Variance. These are the key to understand the maths discussed in this course
Quick look at the formulas
All the math to understand the effect of scaling on estimated intercept, slope, R2, residuals and Standard Error of Regression (SER)
Practice questions to test your understanding

This course comes with:
A 30 day money-back guarantee
Support in the Q&A section - ask me if you get stuck!

I really hope you enjoy this course!
- Shubham

Who this course is for:
University Students taking Econometrics at Undergraduate Level

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Econometrics

Shubham Kalra

Instructor's Courses

Author of four e-books on Amazon (two for Statistics and two for Econometrics). I have 3500+ hours of teaching experience in the field of Microeconomics, Statistics and Econometrics. I became an online tutor in 2015 and have been teaching full time since then. I have worked with students who were complete beginners, as well as those who were facing challenges in mastering advanced topics.I completely understand the initial struggle in decoding the concepts and formulas. I am adept in breaking down difficult concepts with the use of simple examples. I don't encourage memorisation and simply recalling the formulas, instead, I focus on the 'why' and 'how'.I understand that every student has a different way of understanding things. Some students understand the concepts when explained through analogies, others when shown mathematical foundation behind them. I modify my teaching methodology depending on what the student is comfortable with.I have worked with students from 90+ universities. Here are some of the courses I have catered to:6012B0453Y : Econometrics (Amsterdam School of Economics)EC226: Econometrics (University of Warwick)EC203: Applied Econometrics (University of Warwick)MG205: Econometrics - Theory and Applications (LSE)EC3301: Statistics and Econometrics (University of St Andrews)ECON W3412: Introduction to Econometrics (Columbia University)BEE2031: Econometrics (University of Exeter)Econometrics: University of BirminghamBEE2006: Statistics and Econometrics (University of Exeter)EC3303 : Statistics and Econometrics (University of St. Andrews)EC304: Empirical Economic Analysis II (Boston University)FR2202: Financial Econometrics (Cass Business School)EC220: Introduction to Econometrics (LSE)EC221: Introduction to Econometrics (LSE)5SSMN932: Introduction to Econometrics (King’s College London)5QQMN938 : Intermediate Econometrics (King’s College London)5SSPP213: Econometrics (King’s College London)BEE1023 : Introduction to Econometrics (University of Exeter)6012B0212: Econometrics (Amsterdam School of Economics)

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