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ECON 4818-003 Introduction to Econometrics

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ECON 4818-003 Introduction to Econometrics
University of Colorado at Boulder
Department of Economics
Prof. Jeffrey S. Zax
[email protected]
303-492-8268
http://www.colorado.edu/Economics/Zax
Economics 4818
Syllabus and Schedule
17 August 2006
Welcome. I am Prof. Jeffrey S. Zax. This is Economics 4818, Introduction to Econometrics.
Course description:
The purpose of this course is to introduce students to the practice of econometric analysis. This
introduction includes relatively rigorous training in basic econometric and statistical theory, and
extensive practical exercises using Census and simulated data. The successful student should be
trained to perform econometric analysis at well above the standards ordinarily encountered in
commercial and government practice.
This course requires previous completion of Economics 3818, Introduction to Statistics with
Computer Applications, or its equivalent. In particular, it assumes that students understand
expected values. This course does not require calculus or linear algebra. However, success is not
possible without competence in algebra. In particular, it assumes that students understand
summation signs.
The material to be mastered in this course is contained in the lectures, problem sets, computer
exercises and textbook. The principal text for this course is the draft of my Introductory
Econometrics: Intuition, Proof and Practice, referred to in the schedule as “text”. Photocopies of
this text are available at the UMC bookstore. Assignments, answer keys and other communications will be available at the course website:
http://www.colorado.edu/Economics/Zax/Econ4818/spring06/webpages/econ4818.html.
This course will meet on Tuesdays and Thursdays from 12:30 p.m. until 1:45 p.m. throughout
the semester in Humanities 135. I will hold regular office hours between 2:00 p.m. and 3:30 p.m.
on Tuesdays and Thursdays in my office, Economics 111. Appointments can be made for
meetings at other times, if these are inconvenient.
Performance in this class will be judged on the basis of several instruments. The final examination will take place on Saturday, December 16th, from 7:30a.m. –10:00a.m. It will require the full
2.5 hours and be worth 150 points. Any student who has three or more final examinations
scheduled on 16 December has the right to reschedule all exams following the first two. Any
student wishing to invoke this right should do so at the earliest possible time. However, given the
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early hour of the final examination in this course, it is unlikely that anyone is eligible to
reschedule this examination.
One 75-minute midterm examination, worth 75 points, will take place on 12 October. One 25minute quiz, worth 25 points, will take place on 14 November. Problem sets, typically consisting
of problems from the text, will be valued at 150 points. Solutions to the midterm examination,
quiz and problem sets will be available on the course website soon after they are due.
The course as a whole is valued at 400 points. The score attained by each student, evaluated
relative to the score which would be attained by an intelligent student of econometrics at this
level, will determine final letter grades.
Tentative schedule:
Topic
What is a regression?
Readings
Text, chapter 1
Tentative Dates
29 August
Introduction and math prerequisite
Text, chapter 2
31 August
Covariance and correlation
Text, chapter 3
5 September
Introduction to SAS
7, 12 September
Fitting a line
Text, chapter 4
14, 19 September
From sample to population
Text, chapter 5
21, 26, 28 September
Confidence intervals and
hypothesis tests
Text, chapter 6
3 October
Inference in OLS
Text, chapter 7
5, 10 October
First midterm examination
12 October
Non-zero expectations
Text, chapter 8
17 October
Heteroskedasticity
Text, chapter 9
19, 24 October
Autocorrelation
Text, chapter 10
26, 31 October
Endogeneity
Text, chapter 11
2, 7, 9 November
Quiz
14 November
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More explanatory variables
Text, chapters 12, 13
14, 16, 28 November
Express yourself
Text, chapters 14, 15
30 November,
5, 7 December
Categorical dependent variables
Text, chapter 16
12, 14 December
Final Examination
Saturday, 16 December, 7:30a.m.
–10:00a.m.
University policies:
Campus policy regarding disabilities requires that faculty adhere to the recommendations of
Disability Services. In addition, campus policy regarding religious observances requires that
faculty make every effort to reasonably and fairly accommodate all students who, because of
religious obligations, have conflicts with scheduled examinations, assignments or required
attendance. Any student eligible for and needing academic adjustments or accommodations
because of disability or religious practice should arrange to meet with me immediately. Those
with disabilities should immediately submit a letter from Disability Services describing
appropriate adjustments or accommodations.1
Students and faculty share responsibility for maintaining an appropriate learning environment.
All are subject to the University’s polices on Sexual Harassment and Amorous Relationships.2
Students who fail to adhere to appropriate behavioral standards may be subject to discipline.
Faculty have the professional responsibility to treat students with understanding, dignity and
respect, to guide classroom discussion and to set reasonable limits on the manner in which
students express opinions.3 I am happy to discuss any issues of individual or group treatment in
office hours or by appointment.
1
University policies regarding disabilities are available at
http://www.colorado.edu/disabilityservices. Disability Services can be contacted by telephone at
303-492-8671, or in person at Willard 322. University polices regarding religious practice are
available at http://www.colorado.edu/policies/fac_relig.html.
2
University policies regarding Sexual Harassment and Amorous Relationships are
available at http://www.colorado.edu/odh/. The Office of Discrimination and Harassment can be
reached by telephone at 303-492-2127. The Office of Judicial Affairs can be reached at 303-4925550.
3
University policies regarding classroom behavior are available at
http://www.colorado.edu/policies/classbehavior.html and at
http://www.colorado.edu/studentaffairs/judicialaffairs/code.html#student_code
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All students of the University of Colorado at Boulder are responsible for knowing and adhering
to this institution’s policy regarding academic integrity. Cheating, plagiarism, assistance to acts
of academic dishonesty, fabrication, lying, bribery, and threatening behavior are examples of
behaviors that violate this policy. All incidents of academic misconduct shall be reported to the
Honor Code Council. Students who are found to be in violation of the academic integrity policy
will be subject to both academic sanctions from the faculty member and non-academic sanctions,
including but not limited to university probation, suspension, or expulsion.4
4
The Honor Code Council can be contacted by email at [email protected] or by
telephone at 303-725-2273. Additional information regarding the University Honor Code is
available at http://www.colorado.edu/policies/honor.html and at
http://www.colorado.edu/academics/honorcode/.
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