Applied Econometrics (383-0-20)
Instructors
Joel L Horowitz
Meeting Info
Technological Institute MG51: Mon, Wed, Fri 3:30PM - 4:50PM
Overview of class
Econometrics is about using data to infer relations among economic variables. It aims at answering questions such as: by how much does a 5% price increase reduce the demand for a good? This course is about how to use data and modern software to build, evaluate, and use models to answer such questions. The course is taught in a computerized classroom. Each student sits at a computer terminal, which enables us to estimate and diagnose models in class. The course emphasizes the actual building of models. Each student will write a paper describing the analysis of a real data set and the conclusions reached from that analysis.
Registration Requirements
ECON 281-0, ECON 310-1
Evaluation Method
Problem sets, 25%; Proposal and oral presentation of proposal, 25%; Paper and oral discussion of paper, 50%.
Class Materials (Required)
Stock, J.H. and M.W. Watson (2011). Introduction to Econometrics, 4th ed. Pearson/Addison Wesley, ISBN-13: 978-0134461991. If there is a 5th edition, tell me and get that. This course requires extensive use of the statistical software system Stata. You must have Stata on your computer. You can purchase Stata for your computer at https://www.stata.com/order/new/edu/gradplans/student-pricing/. A 6-month license for Stata/IC costs $48 and is satisfactory for the course. Other versions of Stata and permanent licenses are available for higher prices. You can purchase one of these if you want to, but you do not need to do so for the course. We will begin using Stata during the second meeting of the course (Jan. 13), so make sure you purchase Stata by then. You will be e-mailed a link to download Stata after you make the purchase.
Enrollment Requirements
Enrollment Requirements: Pre-requisite: Students must have taken ECON 310-1 or MMSS 211-1 and ECON 281 or ECON 381-1 or MATH 386-1 or IEMS 304 or STAT 350 to successfully enroll in this course.