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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: rmartinezesp@mun.ca

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