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Lecture 0-Organization session
ECON 6002Econometrics IMemorial University of Newfoundland
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INTRODUCTION
The prof
The students
The material
The textbooks
The aids
The way to do it right!
The grading
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The Prof
Rober Martinez-Espineira
“Rober”
email: [email protected]
AA 3087
E-mail only from your MUN account!!!
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The Prof
Office hours (posted on-line and on my office door):
MON 12-1 TUE 2:30-3:30
WED 12-1 THU 2:30-3:30
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The students
Names?
Why are you here?
What are you going to do next?
Who took any Stats or Math Econ?
When did you take Econometrics last? Where?
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The objectives
• To enhance your analytical and intellectual skills through the study of Econometrics
• To strengthen the knowledge of Econometrics you gained in previous Econometrics modules
• To develop your capacity for self-motivated learning and problem solving through the application of theoretical approaches to .real world-like problems
• To equip you for further study in Economics and/or employment in related fields
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The objectives
understand the theory of econometric estimation and inference at a level enough to support practical empirical research at the masters level
apply empirical econometric techniques, interpret, and present the resulting econometric output obtained using computer software on real data
design and implement your own econometric study (in coordination with the Seminar)
interpret the results of applying econometric models in the technical literature
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The textbooksMain texts:Greene,W.H. Econometric Analysis, Sixth
Edition, Pearson/Prentice Hall, 2008
Kennedy, P. A Guide to Econometrics, Sixth Edition John Wiley & Sons, 2008
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The textbooks
Other books you may want to consult:
Baum, C. An Introduction to Modern Econometrics Using Stata, Stata Press 2006
Jeffrey M. Wooldridge Introductory Econometrics: A Modern Approach, 4th Edition, South-Western, 2009
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The textbooks
Other books you may want to consult:
Stock, J.H and M. W. Watson Introduction to Econometrics, 2nd ed. Addison-Wesley, 2006
Hill, R. Carter, Griffths, William E. and Lim, Guay C. Principles of Econometrics 3rd ed. John Wiley & Sons, 2008
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The textbooksMore advanced and specialized books
Long, S. and J. Freese Regression Models for Categorical Dependent Variables Using Stata, 2nd Edition Stata Press, 2006
Badi H. Baltagi Econometric Analysis of Panel Data, 4th Edition, Wiley, 2008
Woodridge, J. Econometric Analysis of Cross Section and Panel Data MIT Press, 2002
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The textbooksMore advanced and specialized books
James W. Hardin, Joseph M. Hilbe Generalized Linear Models and Extensions, 2nd Edition Stata Press, 2006
A. Colin Cameron, Pravin K. Trivedi Regression Analysis of Count Data Cambridge University Press, 1998
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The textbooks
More advanced and specialized books
John P. Hoffmann Generalized Linear Models: An Applied Approach Pearson, 2004
Cheng Hsiao Analysis of Panel Data, 2nd Edition Cambridge University Press, 2003
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The textbooks
Most of these books should be available through the library
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The aids• course outline and online course
schedule
• PowerPoint presentations online
• Home assignments
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The aids
Check your e-mails and website frequently
We will be working little by little but continuously
There will be frequent assignments
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The aids
We will use STATA 11 to work with empirical data
It will be available through your LABNET accounts
Make sure you get one!
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The aids
We will use STATA to demonstrate procedures in class
We will reproduce examples in the book and some additional ones
There will be practical assignments for you
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The way to get it right
• Reading the chapters before coming to class• Taking useful notes in class or annotating over
the printouts from my website• Going back to the book and the exercises after
the class• Coming to see me to solve doubts• Doing the home assignments
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The way to get it right
• There is no way to pass this on swoting
• Trying to catch up on the last two weeks is not going to work
• The way to understanding the material is by doing the stuff as we learn it
• Ask me if you need help!
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The way to get it right
Brush up your Math!
We will not be using a lot of Math, but a little reviewing will help!
We will start with a review of some basic Math
Use the Math appendices in the books too
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The grading system
Final exam (20%)
Two quizzes (20%): Your worst quiz will be 5% and the best quiz will be 15%
Home assignments (30%)
Project+presentation (30%) 15 minutes presentation during last week of classes. Proposal to be submitted during Wk 4
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The grading system
Final exam (20%)
Two quizzes (20%): Your worst quiz will be 5% and the best quiz will be 15%
If you miss a quiz the weight will be reallocated to the final exam: there will be no rescheduling
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The grading system
If you miss a quiz the weight will be reallocated to the final exam: there will be no rescheduling
This does not mean that you can simply skip it: coming to class and completing your assignments is compulsory!!!
See the “doctor notes policy”
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Questions?
Any questions?
Any suggestions?
Any complaints?
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NEXT
Mathematical and Statistical Reviews (see relevant Appendices in Greene and/or Kennedy)
Review of what Econometrics is all about
Look also at Ch. 1 in Hill et al. 2008 and/or Kennedy 2008