Your Guide to Choosing Between ECON
3389, 4376 and 4315
3389, 4376 and 4315
Which course should I take? What’s the difference between them?
I haven’t taken Introduction to Econometrics (ECON 3370). Can I still take one of these classes?
If you haven’t taken ECON 3370, the only course you should consider right now is ECON 3389 – Managerial Economics. It does not require econometrics or any advanced coursework, and it’s designed to be accessible and applied. Both Applied Econometrics (ECON 4315) and Empirical IO (ECON 4376) require Introduction to Econometrics as a strict prerequisite. You’ll need a solid understanding of regression and experience with STATA to succeed in those courses.
Can I take Introduction to Econometrics at the same time as Applied Econometrics or Empirical IO?
No — concurrent enrollment is not recommended or allowed. Both ECON 4315 and ECON 4376 assume you’ve already completed Intro to Econometrics and know how to run regressions in STATA. You won’t have time to learn the basics while also keeping up with the applied content in these courses.
How can I learn to do empirical research with real-world data?
Take ECON 4315 – Applied Econometrics. This course teaches you how to use econometric tools to answer causal questions using real data. You’ll replicate academic papers, work extensively in STATA, and focus on methods like instrumental variables, panel data, and randomized experiments. Great preparation for research, policy work, or grad school.
I’m interested in how firms compete, price, and respond to regulation.
Choose ECON 4376 – Empirical Industrial Organization. You’ll study firm behavior in imperfect markets, estimate demand, and analyze pricing strategies using STATA. The course blends theory and data, with a strong focus on industries like cereal, utilities, and retail. Ideal for students curious about IO, consulting, or antitrust.
I want to apply economics to real business decisions, not just theory.
Go with ECON 3389 – Managerial Economics. This course uses real business case studies (Netflix, Google, Whole Foods, etc.) to show how microeconomics informs managerial choices. You’ll analyze firm strategy, auctions, regulation, and pricing — mostly using Excel, not econometrics. It’s interactive, accessible, and has lots of reading assignments.
Which class uses the most math or statistics?
ECON 4315 is the most technical, especially with regression-based methods. ECON 4376 uses STATA and models but is more applied. ECON 3389 is the most conceptual — it focuses on intuition and business logic with only basic math.
Will I be coding or working with statistical software?
ECON 4315 and ECON 4376: Yes, you’ll use STATA for data analysis. ECON 3389: No coding; just a few Excel-based exercises.
Which course is better if I’m thinking about graduate school?
ECON 4315 is best if you want to build empirical research skills. ECON 4376 is also helpful if you're interested in empirical micro, especially industrial organization.
Which one is best for business or consulting careers?
ECON 3389 is the most business-oriented and case-driven. ECON 4376 is a good second option for consulting roles that require data and market analysis.