Advanced Econometrics I

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Basic Information

Course Description

Advanced Econometrics I - Microeconometrics is designed to help master and doctoral students to be prepared for doing empirical econometric analyses using individual level data of persons, households or firms. Basic courses in Statistics and Econometrics are prerequisites; introductory courses in Economics are recommended, but not required. The course will provide an up-to-date overview on the most commonly used microeconometric methods. Topics include a review of linear regressions, experimental versus non-experimental data, static and dynamic panel data methods, maximum likelihood estimation, non-linear models for binary, multinomial and count outcomes, and non- and semiparametric estimation. In the class, students will apply the methods to real data using the econometric package STATA. Hence, during the course, students will learn to formulate empirical questions in the area of micro-econometrics, collect relevant data, select appropriate empirical methods to be applied to the data, and formulate a meaningful interpretation of the empirical results of their analysis.

For the Master Students: this course is part of the module Advanced Econometrics (MW23). The second part of the module is the course Empirical Industrial Organization, which is held during the summer term.

Instructors

Prof. Dr. Tomaso Duso,

Prof. Dr. Florian Heiß

Dipl. Vw., Dipl Kfm. Joahnnes Muck

Office Hours

After the Lecture, or by appointment

E-mail: duso@dice.hhu.de, Tel: 10235) Room 24.31.01.17

E-mail: florian.heiss@hhu.de, Tel: 11541) Room 24.31.01.24

Registration

You have to register for this class. Moreover, we will collect students' email address during the first lecture so that we can update you about the weekly news.

Data used during the Lecture:

• Life expectancy, 2002
• CPS September, 2006 - description (short version, full version)

Books

• Wooldridge, Jeffrey M. (2009), Introductory Econometrics: A Modern Approach, 4th Edition, South Western College Publishing, Mason (Ohio).
• Wooldridge, Jeffrey M. (2010), Econometric Analysis of Cross Section and Panel Data, 2nd Edition, The MIT Press, Cambridge (MA).
• Greene, William H. (2007), Econometric Analysis, 6th Edition, Prentice Hall.
• Davidson, Russell and James G. MacKinnon (2004), Econometric Theory and Methods, Oxford University Press(New York).
• Baltagi, Badi, Econometric Analysis of Panel Data, 4th Edition, Wiley, latest edition.
• Angrist, Joshua and Jörn-Steffen Pischke, Most harmless Econometrics. An Empiricist's Companion. Princeton university press, latest edition.
• Cameron, Colin and Pravin K. Trivedi, Microeconometrics Using Stata, latest edition, STATA press.

Preparation

• Lecture: Please read and think through each chapter from the textbook before the course and note unclear issues and questions that we will answer during the lecture when we present/discuss the chapter.
• Class: During the first weeks you will get an introduction in Stata. In the following weeks groups of students will present their solution to the assignments. After their presentation we will have a common discussion of the results and solution.

Evaluation

• Final Exam: oral examination or written exam (90 minutes) depending on the number of students (60% of the final grade)
• Homework assignments: In the tutorials students will be asked to solve four assignments (40% of the final grade).

Interesting links

Everything about econometrics

• Econometric Textbooks links by Econometrics Journal
• (US-focused) Econometric Resources by John Kane

Something to read

• Vox: The economists' voice
• Research-based policy analysis and commentary from leading economists
• Ökonomenstimme
• Die Internetplattform für Ökonomen im deutschsprachigen Raum
• The economics of beauty
• 'Beauty and the labour market', Interview with Daniel S. Hamermesh (University of Texas, Austin)
• 'The Economics of Teeth, and Other Beauty Premiums', Freakonomics Blog - NYTimes.com
• The economics of obesity:
• Trends in den USA, 1985-2008, (Center for Disease Control and Prevention)
• 'Health Reform and Obesity', by Richard A. Posner (02.08.2009)
• Wieso ist es gut Statistik zu kennen
• Statistik zwischen Klamauk und Analphabetismus von Hans Wolfgang Brachinger

Stata:

• 'Stata Tutorial' des Carolina Population Centers
• 'Rudiments of Stata' von Jeffrey M. Wooldridge
• 'Introduction to Stata' von Christopher F. Baum
• 'Stata Tutorial' - Princeton University
• 'Stata for Researchers: Introduction' - Social Science Computing Cooperative
• 'Stata Learning Modules' - UCLA
• 'Stata Graph Examples' - UCLA

Data:

• Databases
  • Portal Statistik (Datensätze bei Wikipedia)
  • National Bureau of Economic Research (NBER), Data Library
  • OECD Statistics Portal
  • World Bank Data
  • World Facts Book (CIA)
  • Statistische Bundesamt
• International Organizations
  • European Union (Eurostat, European Central Bank)
  • Organisation for Economic Co-operation and Development (OECD)
  • United Nations (WHO, World Bank)
  • World Trade Organization