Course author
Andreea Safi
Andreea is the author of Econometrics 105 and other courses in MCC's econometrics and quantitative methods series.
Quick Answer
Econometrics 105 is a one-hour on-demand course on multivariate linear regression. It explains omitted variable bias, which arises when a model leaves out a variable that matters, then shows how to estimate a multivariate model by ordinary least squares, test hypotheses and choose between models. You get the video lecture, slides, a quiz and a transcript as soon as you buy.
Key takeaways
- Leaving out a relevant variable can make a regression attribute its effect to another variable, biasing the results.
- A multivariate regression measures each variable's effect while holding the others constant.
- The course covers estimation by ordinary least squares, hypothesis testing and model selection.
- It is recorded, with no live session, and access starts immediately after purchase.
What will you be able to do after the course?
You will be able to build and read a regression with several explanatory variables. The course is built around three outcomes.
- Spot omitted variable bias. Recognise when a missing variable is distorting your results and how to address it.
- Estimate a multivariate model. Use ordinary least squares to estimate a model with several explanatory variables.
- Test and choose models. Apply hypothesis testing and model selection to decide what belongs in the model.
What does the course cover?
The lecture follows the published agenda, and a quiz at the end tests your understanding.
- Introduction and guest speaker
- Omitted variable bias: what it is, why it matters and how to address it
- The multivariate model: estimating a multivariate model
What do the key terms mean?
These are terms you will meet in the course, in plain English.
| Term | Meaning |
|---|---|
| Omitted variable bias | A distortion in a regression estimate caused by leaving out a variable that affects the outcome and is related to an included variable. |
| Multivariate regression | A regression with several explanatory variables, also called multiple regression. |
| Ordinary least squares (OLS) | The standard method for estimating a regression. It chooses the line that minimises the sum of squared differences between actual and predicted values. |
| Hypothesis testing | A way of using the data to judge whether an estimated effect is likely to be real or could have arisen by chance. |
| Model selection | Deciding which variables to include in a model. |
Who is the course for?
It suits anyone who works with data and wants to draw sound conclusions from it.
- Aspiring economists and data analysts
- People new to econometric methods
- Students and professionals in economics
- Decision makers in data-driven industries
- Policy analysts
Which courses should you take first?
Econometrics 105 is the second course in MCC's on-demand econometrics series. It follows the bivariate model in Econometrics 101 and leads on to time series in Econometrics 110 and cost benchmarking in Econometrics 150.
- 101The linear regression model
- 110Time series and the assumptions of OLS
- 150Cost benchmarking for electricity networks
- This course
Browse every title on the MCC Economics courses page.
Why learn this from MCC Economics?
MCC Economics is an independent consultancy, founded in London in 2017, that provides economic and financial analysis to governments, regulators and businesses. Its economic analysis and research and data analysis work uses the econometric methods taught in this series. Meet the team on the people page.
I was delighted that MCC's work was completed on time, and within budget, helping us deliver important changes and improvements, to the benefit of our stakeholders.
Questions buyers ask before registering
Who teaches Econometrics 105?
See the instructor profiles near the top of this page for the current teaching team.
Is there a live session?
No. Econometrics 105 is available on demand only and no meeting is held. You watch the recorded lecture at your own pace.
What do I get when I buy?
A one-hour video lecture, the slides, a quiz and an audio transcript.
What is omitted variable bias?
Omitted variable bias arises when a regression leaves out a variable that affects the outcome and is related to an included variable. The included variable then picks up part of the missing one's effect, so its estimated effect is wrong.
What is a multivariate regression?
A multivariate, or multiple, regression estimates the effect of several explanatory variables on an outcome at the same time, so each effect is measured holding the others constant.
Do I need to have taken Econometrics 101?
It helps. Econometrics 105 builds on the bivariate linear model covered in Econometrics 101.
How much does it cost?
The MCC Economics courses page lists Econometrics 105 at £32.68. The final price is shown at checkout on Eventbrite.
Can my team take the course together?
Contact MCC Economics through the consultation page to discuss places for a team or training tailored to your organisation.
Page last reviewed October 2026.
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