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Introductory Econometrics - Basic Mathematical Concepts
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  • Course
  • DC 558 (EF5154J)
  • Institution
  • Dublin City University

Functions Straight Lines Plot of Hours Studies Against Mark Obtained Straight Lines Roots Quadratic Functions The Roots of Quadratic Functions Calculating the Roots of Quadratics-Examples Calculating the Roots of Quadratics-Solutions Powers of Numbers or of Variables Manipulating Powers a...

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Document information

  • February 26, 2024
  • 57
  • 2023/2024
  • Class notes
  • Dr. marjan zhaf
  • All classes

Subjects

  • introductory econometrics
  • econometrics
  • msc in finance
  • dublin city university
  • basic mathematical concepts in econometrics

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  • Dublin City University
  • DC 558 (EF5154J)
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Introductory Econometrics
Module Code: EF5154J

Academic Year:2023/2024

Lecturer: Dr. Marjan Zhaf

Lecture (1): Basic Mathematical Concepts

, Functions



A function is a mapping or relationship between an input or set of inputs and an
We write y = f(x)
y could be a linear function of x where the relationship can be expressed on a
straight line Or it could be non-linear where it would be expressed graphically as
If the equation is linear, we would write the relationship as
y = a + bx
where y and x are called variables and a and b are parameters
a is the intercept and b is the slope or gradient

, Straight Lines

The intercept is the point at which the line crosses the y-axis
Example: suppose that we were modeling the relationship between a student’s
average mark, y (in percent), and the number of hours studied per year, x
Suppose that the relationship can be written as a linear function
y = 25 + 0.05x
The intercept, a, is 25 and the slope, b, is 0.05
This means that with no study (x=0), the student could expect to earn a
mark of 25%. or every hour of study, the grade would on average improve by
0.05%, so another 100 hours of study would lead to a 5% increase in the mark

, Plot of Hours Studies Against Mark Obtained

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