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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 -1- 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 -2- 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 -3- 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/. -4-