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Courses - Fall 2024
AREC
Agricultural and Resource Economics Department Site
Open Seats as of
05/04/2024 at 10:30 PM
AREC623
Applied Econometrics I
Credits: 4
Grad Meth: Reg, Aud
Prerequisite: Introductory statistics or econometrics, linear algebra, and differential/calculus; or permission of instructor.
Additional information: Intended for first-year Ph.D. students from AREC, BUFN, ECON, EDMS, EDUC, PLCY and URSP departments with a background in introductory statistics or econometrics.
A modern introduction to empirical strategies in applied microeconomic research in public policy, development economics, labor economics, education, marketing and corporate finance. Emphasis on causal reasoning and design-driven identification in the social sciences. Concepts and applications will focus on addressing economically meaningful causal questions. Basic theoretical and mathematical aspects of probability and statistics will be developed to assess the significance of the relationship among economic variables. Topics include: the approximation of the conditional expectation function through a linear predictor (Ordinary Least Squares), the effects of omitted variables and the usefulness of variables that resemble the outcome of a randomized experiment (Instrumental Variables), as well as extensions to high-dimensional big-data counterparts. Fundamental concepts in sampling theory, statistical inference (with small and large samples) and hypothesis testing will be studied and applied to real data using Stata, a general-purpose statistical software.