ECON529-18T (BLK)

Microeconometrics

15 Points

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Waikato Management School
Te Raupapa
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: denise.martin@waikato.ac.nz

Placement Coordinator(s)

Tutor(s)

Student Representative(s)

Lab Technician(s)

Librarian(s)

: clive.wilkinson@waikato.ac.nz

You can contact staff by:

  • Calling +64 7 838 4466 select option 1, then enter the extension.
  • Extensions starting with 4, 5 or 9 can also be direct dialled:
    • For extensions starting with 4: dial +64 7 838 extension.
    • For extensions starting with 5: dial +64 7 858 extension.
    • For extensions starting with 9: dial +64 7 837 extension.
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Paper Description

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Topics covered are: randomised experiments, quasi- and natural-experiments, propensity score matching, instrumental variables and generalised method of moments estimation; discrete choice models; limited dependent variable models; and econometric issues for panel and survey data. There will also be an introduction to Bayesian estimation methods using the package BUGS for the software R, however, most other applications will be run using Stata.
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Paper Structure

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The time on this paper will be divided between independent directed reading, attendance at lectures and computer lab sessions, and working on data analysis assignments.

1. Independent directed readings: The first two weeks of the course will require the student to read and revise some basic material necessary for lecture attendance and lab sessions in subsequent weeks.

2. Lectures: While the lectures will feature discussion based on econometric theory, they will also draw on practical examples that demonstrate the interpretation of results provided by various techniques. In general terms, the paper will be presented in three parts. The first part is based on guided self-study of two main econometric packages Stata and R, with an introduction of the latter to time-series. Stata is the most used commercial package while R is the most used freely downloadable statistical package. The second part of the paper will address techniques that broadly fall under the heading of "evaluation", which includes randomised, quasi- and natural-experiments, instrumental variables, methods of moments and propensity score matching. The third part of the paper will address assorted microeconometric techniques that are mostly relevant to the employment of limited and discrete dependent variables and cross sectional or panel data. At the outset of the paper, it will be presumed that students already have a basic knowledge of vectors and matrix algebra and the multiple regression estimator.

3. Computer lab sessions: The main purpose of the computer classes will be to provide students with practical experience of using the econometric techniques covered in the lectures. The main software packages employed will be Stata and R. The computer classes will be placed in weeks 2 and 3 and will also provide a forum for students to discuss the lecture material and attempt various problem-solving exercises that might be set over the weeks.

4. Data analysis assignments: The main purpose of these is to give students the opportunity to learn to conduct independently the analysis of economic data with the methods learned in the paper and to evaluate their progress in learning.

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Learning Outcomes

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Students who successfully complete the course should be able to:

  • Understand econometric theory relevant to microeconometrics (20%)
    Linked to the following assessments:
  • Understand how these theories may be put to use for empirical investigation and to answer adequately posed research questions (20%)
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  • Understand how the results may be interpreted (15%)
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  • Have practical experience of applying various microeconometric procedures and interpreting their corresponding results (25%)
    Linked to the following assessments:
  • Critically appraise the relative merits of alternative microeconometric approaches (20%)
    Linked to the following assessments:
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Assessment

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Additional information relating to the assessment components will be provided in class. Please also ensure that you check emails and paper announcements regularly.
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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Assignment I
23 Nov 2018
4:00 PM
25
  • Email: Lecturer
2. Assignment II
7 Dec 2018
4:00 PM
25
  • Email: Lecturer
3. Take Home Class Test
16 Dec 2018
8:00 PM
50
  • Email: Lecturer
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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A list of required readings will be made available during the lecture period. Please ensure you check for any emails from the Paper Convenor providing reading information.

Helpful Information :

"Getting started with Stata" (http://www.stata.com/manuals13/gsw.pdf) [gsw];

"User's guide - Stata" (http://www.stata.com/manuals13/u.pdf) [u];

visit the Stata FAQs at http://www.stata.com/support/

try the tutorials at http://www.ats.ucla.edu/STAT/stata/

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Recommended Readings

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https://stats.idre.ucla.edu/r/

https://stats.idre.ucla.edu/stata/

http://www.ats.ucla/edu/stat/stata/modules/default.htm

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Other Resources

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http://froelich.vwl.uni-mannheim.de/1357.0.html?&L=1

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Online Support

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We use Moodle.
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Workload

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Workload requirements will be covered in class.
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Linkages to Other Papers

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See details of other Econometrics papers.
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Prerequisite(s)

Prerequisite papers: One of ECON304, ECON404, ECON528, ECON543 or equivalent

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ECON504

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