Econometrics JTME-990222: Professor Colin J. Vance Syllabus Fall 2017 Course Description
Econometrics JTME-990222: Professor Colin J. Vance Syllabus Fall 2017 Course Description
Econometrics JTME-990222: Professor Colin J. Vance Syllabus Fall 2017 Course Description
Course description
This course focuses on the application of econometric methods to the analysis of secondary
data. Specifically, the goal is to expose students to some of the issues and challenges typically
confronted by econometricians when analyzing empirical data in the realms of social science
research, business and finance. Emphasis will be placed on the intuition underlying various
commonly applied econometric techniques and on the steps needed to implement them. We will
expand on the knowledge acquired in statistics and intensify discussions of multiple regression
analysis. The general objective is to become familiar with contemporary methods that are used
in econometric and business analyses and to become a critical reader of case studies. In this
regard, a clear distinction will be drawn along two dimensions: between questions of statistical
significance versus those of economic or social significance; and between correlation and
causation. We will take a practical approach that covers how to estimate econometric models
using R, a freely available software that students are expected to download and install. Sessions
will often include computer applications to foster understanding of the discussed topics, so
students should always have their laptops on hand.
Reading material
Sykes, A.O. (1993). An Introduction to Regression Analysis. Coase-Sandor Institute for Law
& Economics, Working Paper No. 20. (available on CampusNet)
Kabacoff, R. (2015). R in action: data analysis and graphics with R. Chapter 8. Manning
Publications Co. (on reserve in the library)
Course schedule
Assessment
Student performance will be judged based on three criteria:
- Homework 1: 10%
- Homework 2: 15%
- Final exam: 75%
Two sets of homework problems have been uploaded to CampusNet. These will require the R
software to complete. Collaboration in completing the homework is encouraged. Students
may form groups of up to 4 people (a maximum) and turn in a single homework as a group.
Please do not approach the instructor about forming the groups; this is up to you. You may
also work in smaller groups or individually. The homework should be typed. The R software
should be used for completing the questions. The first homework is due by email on October
23 by 23:59 (the e-mail address will be posted beforehand on CampusNet). For every day the
homework is late, a grade of 0.33 will be deducted. Thus, a homework that would have
received a grade of 1.00 if handed in on October 18 at 23:59 will receive a grade of 1.33 if
handed in on October 19 at 0:01 and a grade of 1.67 if handed in on October 20 etc.
Absolutely no exceptions will be made. The second homework is due on December 5, 2017.
The same rules as for the first homework apply.