Abstract:

Econometrics is a subject taught in Economics and Business Administration studies in all Spanish Economics Faculties. This discipline combines mathematics, statistics and economics for the empirical study of economic phenomena. Its interdisciplinary nature gives it an enormous training capacity for economics students. However, its mathematical content makes students usually have difficulties in successfully passing their Econometrics courses. Traditionally, in Spain, this subject has registered high abandonment and failure indices, which, in our opinion, have been due to several causes. Firstly, the students have usually been obliged to acquire a considerable theoretical command of Econometrics instead of helping them to develop the skills and abilities necessary for carrying out an adequate applied analysis of economic phenomena. Secondly, in Spanish Economics Faculties little interest has been shown in training students in Econometrics based on applications with real data and problems. The practical classes in Econometrics have usually consisted of the solution of problems with a heavy theoretical content (demonstrations of theorems, of properties of estimators, etc.). Thirdly, and lastly, the use of the new technologies in the teaching of Econometrics has been scanty.
During the last few academic years and in the sphere of the Economic Analysis department at the Rey Juan Carlos University in Madrid, we have been conducting a pilot experiment in different econometrics subjects in the Economics Degree (Econometrics, Advanced Econometrics and Time Series) in an attempt to solve the problems which lead to the high abandonment and failure indices referred to before.
In this paper, this experiment is described in detail, especially with regard to the application of new technologies, together with the results obtained.
This pilot experiment has been structured on three basic pivots: Design of the courses, giving priority to applied contents over theoretical ones; massive use of the new technologies in planning this subject and the redesign of the evaluation methods of Econometrics courses.
With respect to the results obtained from the experiment, the following can be highlighted. Firstly, a notable improvement was obtained in students’ perception of Econometrics subjects. It was no longer seen by them to be a complicated subject, difficult to pass. Secondly, and as a result, there was a considerable reduction in its abandonment rate by students, as well as an increase in the number of students passing it. Thirdly, and agreeing with the previous results, an increase was observed in students enrolling in optional Econometrics subjects (Advanced Econometrics and Time Series). And fourth and last, an improvement in the students’ ability to use econometric tools for economic analysis was noticed.

Keywords:

innovation, econometrics.