Applied Econometrics

Agribusiness Teaching Center of the International Center for Agribusiness Research and Education (ICARE) invites to participate in Applied Econometrics 4-month long course. The course will start on January 13th and will last until May 5th. It will be taught by Rafael Bakhtavoryan, PhD.

This course provides an in-depth introduction to the use of econometric methods to address important economic questions. Students are taught the tools of basic statistics and linear regression that are used to test economic theories or measure economic phenomena. At the end of the course, students should be able to estimate econometric models and conduct hypothesis testing using actual data and STATA statistical software package.
After successfully finishing the course, participants will be awarded Certificate of Participation.

Course description
The course will start with the review of basic probability and statistics concepts and matrix algebra. Then, the course will continue with two-variable regression analysis focusing on the problem of estimation, classical normal linear regression model, interval estimation and hypothesis testing, and the appropriate extensions of the two-variable linear regression model. Next, the course covers multiple regression analysis by presenting and discussing the problem of estimation and the problem of inference. Additionally, the course introduces dummy variable regression models. Then, the overview of relaxing the assumptions of the classical model (multicollinearity, heteroscedasticity, autocorrelation, and endogeneity) will be covered. Finally, if time permits, the qualitative response regression model (logistic regression) and panel data analysis will be briefly presented and discussed. 

Learning outcomes
After completing the course, students will be able to:

  • Develop the ability to build and estimate the appropriate model and do statistical inference.
  • Interpret and explain the empirical results.
  • Use STATA statistical software for empirical exercises.  
  • Think strategically and tactically for solving economic problems using the estimation results.  
  • Develop critical thinking skills and communicate effectively.  

Target audience
Participants are not expected to be intimately familiar with econometrics; however, it is recommended that they have basic skills in English and Statistics.

Teaching methods
A combination of structured lectures, quizzes, class participation, individual homework assignments, term paper, and exams will be used. Students will be provided with ample opportunities to express their knowledge of course material, develop and practice analytical and communication skills, and exchange ideas through class participation and homework assignments. In order to make the course an enjoyable learning experience, it is essential that you read assigned chapters before class, attend classes regularly, prepare yourself for the discussions, and raise your viewpoints during class. Each student is expected to contribute regularly to class discussion through thoughtful, timely and constructive participation, as called upon by the instructor.


Dr. Bakhtavoryan received his Ph.D. in Applied Economics from Texas A&M University. Currently, he works as an Assistant Professor at Texas A&M University-Commerce, United States. Also, he teaches graduate courses, such as Statistics, Econometrics, Managerial Economics, and Agribusiness Analysis and Forecasting, in the MAB program at the Armenian National Agrarian University. His research interests lie in the areas of consumer demand analysis, applied econometrics, and forecasting.

Course duration
The course will start on January 13th and last until May 5th.

Course working language
The language of instruction will be English.

Course participation fee
The course fee is 100,000 AMD which must be paid the first week of January.

Registration procedure and deadline 
If interested, please email your CV at
Registration deadline is January 10th, 19:00.
Due to limited seating only shortlisted applicants will be notified for participation.

If you have questions, please contact Lena Mamikonyan at
International Center for Agribusiness Research and Education (ICARE).
Address: 74 Teryan Street, 0009 Yerevan, (37493) 42-59-55.

The International Center for Agribusiness Research and Education (ICARE) Foundation is a non-governmental and non-commercial organization established in Yerevan, Armenia in 2005 by Texas A&M University. ICARE is an umbrella institution for the Agribusiness Teaching Center (ATC), the Agribusiness Research Center (ARC), and the EVN Wine Academy. ICARE has produced a number of research studies for its partners: the World Bank, the United Nations Food and Agriculture Organization, the U.S. Department of Agriculture, the U.S. Agency for International Development, and Germany’s Gesellschaft für Internationale Zusammenarbeit. These economic- and marketing-based research projects have been used to assess the region’s agribusiness climate as well as identify new opportunities for investment and development.


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