Business Analytics and Econometrics

Degree program: MSc Management

We live and work in the “information age”, allowing us to collect and to analyze more and more data. However, the sheer quantity of information is a challenge for good decision making. Is there empirical evidence for an expected association? Which model has the highest explanatory power for a specific case? How to measure relationships among variables with different levels of measurement or among many variables simultaneously? Can we trust the results? How do we interpret the outcomes and make forecasts?

This course will introduce the participants to statistical tools and econometric models that can be used to quantify relationships, to test theories, or to make forecasts. The focus of our work is on inferential Statistics and on Econometrics.

The organization of the course content is as follows:

• Introduction

• Univariate Analysis: Core Measures and a Refresher on Inferential Statistics

• Bivariate Analysis with Continuous and Qualitative Data


• Multiple Linear Regression Model: Setup and Functional Forms, Estimation, Goodness of Fit, Properties and Problems, Binary Variables

• Inference and Prediction

• The Next Steps

Course facts

Offered byProf. Dr. Günter Lang
ECTS credits5 Credit Points
Method of examinationWritten Exam (50%), Project Work (50%)