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| Semester | fall semester 2012 |
| Course frequency | Every fall sem. |
| Lecturers | Kurt Schmidheiny (kurt.schmidheiny@unibas.ch, Assessor) |
| Content | Outline: 1. Causal effects and the logic of randomized experiments 2. Linear regression: Estimation, small and large sample properties, hypothesis testing, omitted variable bias, model selection, functional form, heteroscedasticity, autocorrelation, clustering 3. Instrumental variable estimation: Estimation, identification, weak instruments 4. Panel data: fixed effects, random effects 5. Maximum likelihood estimation 6. Binary choice: probit and logit 7. Limited dependent variables: censoring, truncation and sample selection Module 1: Data generating process and Monte Carlo simulation Module 2: Sampling distribution, asymptotics and the bootstrap |
| Learning objectives | This course provides students with the basic econometric tools for cross-section and panel data. It is an applied course preparing students to both conduct own empirical research projects and assess empirical research papers. Each of the discussed tools will be implemented using standard statistical software (Stata or R) and real world data. Students will learn how to choose the adequate statistical method, discuss its identifying assumptions, correctly interpret its results and to translate them into economically meaningful answers. |
| Bibliography | Any textbook in econometrics covers the topics developed in this course. The technical level of this course will be closer to the introductory text- books. However, students with a strong mathematical background may find the advanced textbook more appropriate. The two companions are not self-contained textbooks but useful to deepen the intuitive under- standing. Introductory textbooks: - Stock, James H. and Mark W. Watson (2011), Introduction to Econometrics, 3rd ed., Pearson Addison-Wesley. Advanced textbooks: - Cameron, A. Colin and Pravin K. Trivedi (2005), Microeconometrics: Methods and Applications, Cambridge University Press. - Davidson, Russell and James G. MacKinnon (2004), Econometric Theory and Methods, Oxford University Press. - Hayashi, Fumio (2000), Econometrics, Princeton University Press. - Wooldridge, Jeffrey M. (2002), Econometric Analysis of Cross Section and Panel Data, MIT Press. Companion textbooks: - Angrist, Joshua D. and Jorn-Steffen Pischke (2009), Mostly Harmless Econometrics: An Empiricist's Companion, Princeton University Press. - Kennedy, Peter (2008), A Guide to Econometrics, 6th ed., Blackwell Publishing. |
| Weblink | Weblink |
| Admission requirements | Prerequisites: Completed BA in Business and Economics and basic knowledge in statistics, particularly the linear regression model |
| Course application | Registration: Please enrol in MOnA. EUCOR-Students and Exchange-Students have to enrol at the students administration office (studsek@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Course auditors welcome |
| Interval | Weekday | Time | Room |
|---|
No dates available. Please contact the lecturer.
| Modules |
Grundlagenmodul: Advanced Topics in Economics (Master International and Monetary Economics) Kernmodul VWL (Master Business and Economics) (Pflicht) Modul Internationales Zusatzwissen (Master European Studies) Modul Kernbereich Wirtschaftswissenschaften für Fortgeschrittene (Master Sustainable Development) Modul Wirtschaftswissenschaftliche Grundlagen der Europäischen Integration (Master European Studies) Modul Wirtschaftswissenschaftliche Grundlagen der Nachhaltigkeit (Master Sustainable Development (Start of studies before 01.08.2010)) (Pflicht) |
| Assessment format | end-of-semester examination |
| Assessment details | written exam: 14.01.13; 10:15-11:55. Bernoullianum: A-I; HS 102: J-NE; ZLF: NG-Z. |
| Assessment registration/deregistration | Registration: course registration |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |