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Econ 213 - Fundamentals of Econometrics - Econometrics is concerned with the combination of economic, mathematical, and statistical techniques in the analysis of economic and business problems such as forecasting, demand and cost analyses, model building, and testing empirical implications of theories. This course focuses on building multiple regression models useful for testing economic theories and making business forecasts. Topics include simple and multiple regression, dummy variables, multicollinearity, heteroscedasticity, serial correlation, and binary dependent variable models. The coursework includes extensive use of statistical software packages and large data sets.

For a semester project, I developed a financial model for describing the key economic factors that affect the price of a stock in a one year period. More specifically, I researched the change in stock price of biotechnology firms, both listed on the NYSE and NASDAQ, in 2002. The goal of this research was to determine if a stock’s price fluctuates because of the company’s performance in that year, or if investor emotion is an underlying factor that drives the market. In my analysis I used six independent variables, of which five were significant at a 5% confidence level. For this cross-sectional data, my adjusted R-squared value is 0.82 and the F-stat is 26.2, which shows that the model has utility. Therefore, this research can conclude that the stock price is mainly affected by the individual company’s performance during that year and compared to the pervious year, instead of investor emotion.