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| Semester | fall semester 2023 |
| 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 “Advanced Econometrics” (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. (2010), Econometric Analysis of Cross Section and Panel Data, 2nd ed., MIT Press. Companion textbooks: - Angrist, Joshua D. and Jorn-Steffen Pischke (2009), Mostly Harmless Econometrics: An Empiricist's Companion, Princeton University Press. |
| Comments | Students who plan to take other courses in econometrics 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 | Further Information |
| Admission requirements | Prerequisites: Completed BA in Business and Economics and basic knowledge in statistics, particularly the linear regression model |
| Course application | Registration: Please enroll in the Online Services (services.unibas.ch); Eucor-Students and mobility students of other Swiss Universities or the FHNW first have to register at the University of Basel BEFORE the start of the course and receive their login data by post (e-mail address of the University of Basel). Processing time up to a week! Detailed information can be found here: https://www.unibas.ch/de/Studium/Mobilitaet.html After successful registration you can enroll for the course in the Online Services (services.unibas.ch). Applies to everyone: Enrolment = Registration for the course and the exam! |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Course auditors welcome |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| wöchentlich | Monday | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| wöchentlich | Thursday | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Date | Time | Room |
|---|---|---|
| Thursday 21.09.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 25.09.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 28.09.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 02.10.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 05.10.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 09.10.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 12.10.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 16.10.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 19.10.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 23.10.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 26.10.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 30.10.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 02.11.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 06.11.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 09.11.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 13.11.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 16.11.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 20.11.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 23.11.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 27.11.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 30.11.2023 | 10.15-12.00 | Pharmazentrum, Hörsaal 1 |
| Monday 04.12.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Thursday 07.12.2023 | 10.15-12.00 | Wirtschaftswissenschaftliche Fakultät, Auditorium |
| Monday 11.12.2023 | 10.15-12.00 | Biozentrum, Hörsaal U1.131 |
| Modules |
Basic Module: Advanced Topics in Economics (Master's Studies: International and Monetary Economics) (Pflicht) Modul: Methoden der Wirtschaftswissenschaften (Master's Studies: European Global Studies) Module: Core Competences in Economics (Master's Studies: Sustainable Development) Module: Field Electives in Finance and Money (Master's Studies: Finance and Money) 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: 05.01.24; 17:00-18:30. DSBG Sporthalle: A-Z. For this exam you will still receive additional information by email. You would have to be on site at least 30 minutes before the exam starts. The addresses of the examination rooms can be found here: https://wwz.unibas.ch/de/studium/pruefungen/vorlesungs-und-pruefungsraeume/ You can still withdraw from the examination by submitting a completed, signed form to our office from 17.10.23 until 27.10.23 / 12:00 o’clock. The deregistration form and the mail address can be found on the homepage of the Dean of Studies Office: https://wwz.unibas.ch/en/studies/examinations/de-/registration-of-examinations/ Prior to 16.10.23, please deregister only in the Online Services. repeat exam: 05.02.24; 12:30-14:00. You will receive the rooms for the repeat exam by mail. IMPORTANT: For courses with a main lecture exam, a repeat exam is offered in addition to the regular examination date.This repeat examination can only be taken if the student has taken part in and failed the regular examination (grade < 4.0) see study guide of our master programs by December 13, 2021: Paragraph 4.13.4.1. |
| 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 |