AØKA08084U Advanced Microeconometrics

Volume 2015/2016
Education

Elective at MSc in Economics

Content

The overall purpose of the course is to provide a fundamental understanding of microeconometric methods and their application. These methods consist of behavioral models and statistical techniques to estimate these models.


The course will cover the following methods of estimation:

  • Linear panel data models (Chapter 10-11)
  • Non-linear estimation methods (Chapter 12-14)
  • Non-parametric estimation methods (Lecture notes)
  • Discrete response models (Chapter 15-16)
  • Corner solution models (Chapter 17)
  • Censored data and sample selection models (Chapter 19)
  • Treatment effects (Chapter 21)


The course consists of a series of lectures and exercise classes. The lectures focus on theory whereas the class provides a hand on knowledge of estimation of the models.

Learning Outcome

Through their completion of the course, students should acquire the tools necessary to understand papers and undertake empirical analysis on microeconometric topics. The acquired skills in microeconometric theory and practice provide a strong background that enable students to do empirical analyses at a high level suitable for the master thesis, but also relevant for answering empirical economic questions that could be encountered in a government agency or in the private sector.


The purpose of the lectures and the exercise classes is that the student should

  • acquire knowledge about estimation methods
  • be able to review linear cross section and panel data models, and nonlinear models for discrete dependent variables, censored dependent variables and sample selection.
  • be able to give an account of how these techniques are applied to quantify effects of public policies.
  • be able to give an account of how such models are applied appropriately within different sampling schemes.

 

To obtain the maximum grade in the part of the course covered by lectures and exercises, students must excel in all of the areas listed above.

A parallel master’s seminar in microeconometrics will be set-up and students following the Advanced Microeconometrics course are encouraged to also taking this seminar. The purpose of the parallel seminar is to make students

  • pose a focused economic research question (inspired, for example, by an already published paper
  • find data that can be used to answer the question
  • estimate relevant models and test hypotheses using methods discussed in the course.
  • program the estimators applied in the paper using MATLAB
  • investigate the properties of the estimators and tests using Monte Carlo techniques
  • present the analysis in a short and focused term paper
  • Disseminate the analysis and discuss empirical strategies at a workshop

 

Students who want to take both the course in Advanced Microeconometrics as well as the master’s seminar, need to sign up for both separately.

Syllabus

Jeffrey Wooldridge (2010), "Econometric Analysis of Cross Section and Panel Data", Second Edition, MIT Press. chapters 10-17, 19 and 21.

 

Pre-requisites are Quantitative Methods 1-3 (Econometrics A-C)
Schedule:
The course consists of 2x2 hours of classes (lectures) every week for 11 weeks and 2 hours of exercise classes every week for 12 weeks.

In the first lectur in week 36 the assosiated seminar "Advanced Microeconometrics" will be introduced.


Note that all lectures and exercise classes are frontloaded in the beginning of the semester to give room for students, who participate in the seminar, to focus entirely on the term paper in the seminar.

For enrolled students please find more information of courses, schedule, rules etc at
https:/​/​intranet.ku.dk/​economics_ma/​courses/​Pages/​default.aspx

Timetable and classroom:
For time and classroom please press the link under "Se skema" (See schedule) at the right side of this page (15E means 2015 Efterår (Autumn))
  • Category
  • Hours
  • Class Exercises
  • 24
  • Exam
  • 0,3
  • Lectures
  • 42
  • Preparation
  • 139,7
  • Total
  • 206,0
Credit
7,5 ECTS
Type of assessment
Oral examination, 20-25 minuts under invigilation
The assessment is based on an oral exam without preparation.
Aid
Without aids
Marking scale
7-point grading scale
Censorship form
External censorship
100% censorship
Exam period

14. December 2015 to 29. January 2016

The exact date for the oral exam will be updated during the semester

For enrolled students more information about examination, exam/re-sit, rules etc. is available at the student intranet for Examination (English) and student intranet for Examination (KA-Danish).

Re-exam

Same as the ordinary exam.

 

Criteria for exam assesment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.