Lec 06 Variance and Standard Error of OLS Estimators & The Gauss-Markov Theorem

This document covers the variance and standard errors of OLS estimators along with the Gauss-Markov Theorem, explaining why OLS estimators are BLUE (Best Linear Unbiased Estimators) under standard assumptions. It discusses key features, the sampling distribution of OLS estimators, and their practical interpretation. The material also extends these concepts to the multiple linear regression model with two independent variables, providing a clear understanding of how estimation works in a multivariate setting. This resource is ideal for students seeking a concise and exam-focused understanding of OLS properties in econometrics.