The course introduces the foundations for statistical economic (econometric) models, linear econometric models, and inference with linear econometric models when observations are dependent because individual units are sampled over regular time intervals (panel data) as well as for other reasons. It shows how these linear models can be used to evaluate and quantify theoretical relationships and forecast counterfactual economic outcomes. Part of four-course, year-long sequence (APEC 8211-2-3-4). prereq: 8211 or equiv or instr consent