One of the world's foremost experts in econometrics taught PhD students

Professor in economics Magne Mogstad from the University of Chicago taught econometrics to PhD students from all over Europe at UiS Business School.

Published 19. Aug. 2022. Updated on 19. Aug. 2022

Professor Magne Mogstad underviser en gruppe studenter — Magne Mogstad is professor in economics at University of Chicago, and is also head editor of *Journal of Political Economy*.

Magne Mogstad is one of the world’s foremost experts in econometrics.

– I am here to learn. This is a fantastic opportunity to listen to him and get a better knowledge of the field, says Eric Myran Wee.

Both he and Gina Eckhoff came from NTNU Business School in Trondheim, where they had just started their PhD.

Eckhoff says it's a challenging course because it's information for five weeks of learning in only one week. But she thinks it's great fun to know more about the advanced research front.

– It's not on the surface; it goes deeper than that.

She also thinks it was fun to meet other students interested in economics.

Wants to contribute to better research

The course aims to develop the necessary knowledge to understand, design, conduct, and interpret empirical analyses of real-world data.

The last time the course was held, it was fully booked with several visiting participants from other European universities. This was also the case this year, with students from Wales, Germany and Austria, among others.

Magne Mogstad knows UiS Business School quite well and thinks it was good to be back here again.

– They were very lovely students. My goal is to educate them and contribute to better research.

En gruppe stipendiater som står foran handelshøgskolen ved UiS — Some of the satisfied PhD students who participated at Magne Mogstads course in August. Now all of them will get a final exam to finish the course.

Essential methode

Econometrics is an essential method in the field of empirical economic research. It uses statistical methods and quantitative data to study causality. Econometrics is often used to analyse the effect of various policy measures, such as Will people work less if we raise the income tax? How effective is punishment in reducing crime? Does new technology make businesses more efficient?

– Over the years, we have seen economics become increasingly more empirical. It is crucial for future economists to master data analysis, especially if you want to assert yourself in the field of economic research, says course coordinator Torfinn Harding.

This is the second time Magne Mogstad has had a PhD course at UiS Business School. But he says that he plans to come back for a third time next year.