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| Semester | fall semester 2021 |
| Course frequency | Every fall sem. |
| Lecturers |
Andrea Ghisletta (andrea.ghisletta@unibas.ch)
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 |
| 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. This course is supplemented by the course “Fundamentals of Econometric Theory” (41957) which provides formal proofs and additional results. |
| 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 understanding. Introductory textbook: - Stock, James H. and Mark W. Watson (2020), Introduction to Econometrics, 4th Global Edition, Pearson. 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. |
| Comments | Students who plan to take other courses in econometrics (Microeconometrics I and II, Time Series Analysis I and II) should also follow the course "Advanced Econometrics" (41957) along with "Econometrics" (12036). Students studying under the expiring study regulation will be admitted to the exam, even if the system should give the feedback that this is no longer possible. |
| 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 students of other Swiss Universities have to enrol at the students administration office (studseksupport1@unibas.ch) within the official enrolment period. Enrolment = Registration for the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Monday | 10.15-12.00 | Biozentrum, Maurice E. Müller Saal U1.111 |
| wöchentlich | Wednesday | 10.15-12.00 | Chemie, Organische, Grosser Hörsaal OC |
| Comments | The course is planned as an in-class course with a simultaneous livestream.. |
| Modules |
Basic Module: Advanced Topics in Economics (Master's Studies: International and Monetary Economics) (Pflicht) Core Module: Economics (Master's Studies: Business and Economics (Start of studies before 01.08.2021)) (Pflicht) Modul: Methoden der Wirtschaftswissenschaften (Master's Studies: European Global Studies) Module: Core Competences in Economics (Master's Studies: Sustainable Development) Module: Fundamentals in Business and Economics (Master's Studies: Business and Economics) Module: Fundamentals in Business and Technology (Master's Studies: Business and Technology) Module: Fundamentals in Economics (Master's Studies: Economics and Public Policy) Module: Preparation Master's Thesis in Economics (Master's Studies: Sustainable Development) |
| Assessment format | main lecture exam |
| Assessment details | There will be a final exam and eight online tests. The online tests will be graded on a pass / fail basis. You must pass at least five out of the eight online tests in order to be allowed to the final exam. If you do not fulfill this requirement, you will be excluded from the final exam and deregistered from the course in MONA. The grade will solely be determined by the final exam. written exam: 06.01.22; 12:15-13:45. The exam will take place at Congresscenter Basel. You will receive detailed information about the procedure and admission to the exam hall about one week before the exam. In case COVID-19 protective measures prevent examination on site, the faculty reserves the right to conduct the examination electronically during the same time slot. You can still withdraw from the examination by submitting a completed, signed form to our office from 19.10.21 until 29.10.21 / 12:00 o’clock. Please send your form by mail to belegungstorno-wwz@unibas.ch. You will find the examination withdrawal form on the Homepage of the Student Dean’s Office. Prior to 18.10.21, please only use MONA for withdrawing. repeat examination: 02.02.22; 14:15-15:45 |
| Assessment registration/deregistration | Reg.: course registration, dereg: cancel course registration |
| Repeat examination | one repetition, best attempt counts |
| Scale | 1-6 0,1 |
| Repeated registration | one repetition |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |