Introductory econometrics (2017/2018)

Course partially running (all years except the first)

Course code
4S02453
Name of lecturer
Alessandro Bucciol
Coordinator
Alessandro Bucciol
Number of ECTS credits allocated
6
SECS-P/05 - ECONOMETRICS
Language of instruction
Italian
Location
VICENZA
Period
Primo Semestre Triennali dal Sep 18, 2017 al Jan 12, 2018.

Learning outcomes

Many economic decisions require quantitative answers to quantitative questions. The module aims to provide the main econometric tools to develop, based on the available data, an empirical analysis on the relation between economic variables, and correctly interpret the results obtained. Econometric tools can be used in many economic situations (such as finance, labor economics, macroeconomics, microeconomics, marketing and political economy) as well as in social sciences (political science, sociology, health). Empirical applications in the economic and business fields will be discussed throughout the course.

Syllabus

1. INTRODUCTION (Stock-Watson, ch.2-3)
1.1. What is econometrics?
1.2. Probability
1.3. Statistics

2. REGRESSION ANALYSIS (Stock-Watson, ch.4-9)
2.1. Linear regressione with a single regressor and hypothesis testing
2.2. Linear regression with multiple regressions and hypothesis testing
2.3. Diagnostics of the regression model: specification, heteroskedasticity, autocorrelation

3. EXTENSIONS (Stock-Watson, ch.11-12)
3.1. Regression with instrumental variables
3.2. Regression with binary dependent variable

 Author Title Publisher Year ISBN Note James H. Stock, Mark W. Watson Introduzione all'econometria (Edizione 4) Pearson Education Italia 2016 978-8-891-90124-8

Assessment methods and criteria

The exam is made of one written essay and one homework; the final grade is given by the average of the grades in the essay and the homework, with 75% and 25% weights respectively.
The written essay is taken in a teaching room, lasts two hours and covers the whole program of the module. It is possible to use a calculator, but neither notes nor other teaching material. It is possible to split the essay in two parts, with each covering about half program. The grade of the essay is given by the simple average of the grades in the two parts. The first-part essay is planned in the week devoted to intermediate exams, while the second-part essay will be held together with the "primo appello" in January. Students are admitted to the second-part essay provided that their grade in the first-part exam is not lower than 16/30.
The homework is developed individually outside the teaching rooms, and can be of two types (Homework I and Homework II). Each student can choose which type of homework to deliver, but must deliver one of them. Once the deadline for delivery of Homework II has expired, it is possible to deliver Homework I only.

Homework I
The homework aims to develop critical skills with respect to empirical applications. Each student is free to choose one article from, e.g., www.lavoce.info, www.voxeu.org/ or other webiste, provided that it discusses an economic topic and makes use of data.
The homework consists in an essay of max. 2000 words, to be delivered by email (to the address alessandro.bucciol[at]univr.it) or in person within the day in which the exam is scheduled.

The essay must contain 1) a reference to the chosen article, 2) a summary of the article, briefly describing its motivation, goal, methodology and results, and 3) a critical comment on the methodology, also proposing alternative analyses and possible future developments.

Homework II
The homework aims to develop analytical skills through personal data analysis in Gretl.
Within December 13, students interested in this homework must write to the address alessandro.bucciol[at]univr.it communicating name, surname and ID number.
The text of the homework will be made available on December 14; the solution must be delivered by email within December 17.