Course Information

Course Information:

Econometrics

AS.440. 606 85 ( 3.0 Credits )

Spring 2023 [AE Spring 2023]

This course focuses on the application of statistical methods to the testing and estimation of economic relationships. After developing the theoretical constructs of classical least squares, common problems encountered when applying this approach, including serial correlation, heteroscedasticity, and multicollinearity, are discussed. Techniques for       dealing with these problems are then examined. Models with lagged variables are considered, as is estimation with    instrumental variables and two-stage least squares. Prerequisites: 440.605 Statistics.

AAP Applied Economics

Advanced Academic Programs - AS

Instructor Information:

Michael Jones

Oice Hours:

Please reach out to me with questions and concerns about the course by . If we are not able to address the       situation by email then Teams or Zoom will be suggested. I monitor email continuously while I am awake so response times should meet or exceed your expectations.

Class Times:

No meeting times. No lectures. This course is 100% on the Web. The entire class will be conducted on the internet via Canvas and Cengage Learning Mindtap (called “Cengage”for simplicity).

Course Location:

Course Structure

What to Expect in this Course:

The course covers 12 chapters of the assigned econometrics textbook. All assignments will be done on so  students must have use of a computer, obtain access to the course, and have a plan to continue their access if their   usual computer isn’t working correctly. There will be

.

STATA is the professional standard software for economists. The selected textbook provides signiicant instructional material on the use of STATA as part of each chapter. Excel            software is available as part of the standard Microsoft Oice365 product provided by JHU and is ubiquitous in the        professional world. Excel could be used for basic tasks, calculations, and keeping notes. It also provides an alternate   method of performing regressions so you can verify some of what STATA does for you.

Course Overview:

This course will provide students with a basic understanding of econometrics and skills needed to perform empirical   research. Instruction will be focused on developing the intuition needed to perform and understand econometric          analysis. Speciically, students will learn in depth how to perform multiple linear regressions using cross-sectional data and how to overcome the various problems they will encounter. The intention is to build a solid foundation for the        student to write empirical papers and understand professional journal articles.

Time-series and panel-data analyses will be introduced but not covered in depth to allow time to give an overview of instrumental variables estimation, two stage least squares, and limited dependent variable models.

Directions for Students:

You should always irst carefully read the chapter and review the lecture slides before completing the problem sets. You should work the examples in the lecture slides. This is an excellent way to igure out how you are going to work the type of problem in STATA assignments and get correct answers since the answers are given in the slides.

Cengage will be used for this course so get your access to this course on Cengage taken care of immediately. Your irst graded assignment is to get into Cengage and do the“check-in”assignment for a grade. You should spend

on this course -- there is a positive correlation between study time and grade earned!

During Cengage sign up - and throughout the term - if you have any technical problems or website issues, send an email to technical support at Cengage explaining the issue. The Cengage support team is almost always better able to resolve technical issues than your instructor.

Get into the Cengage course and look around. Continue doing the tasks in Cengage starting with the   Check-In Assignment. Work down the list in Cengage and follow the schedule shown at the end of the syllabus in the Appendix. The list of tasks in Cengage is in order by chapters.

In brief here is what you do for each chapter:

1. Read chapter.

2. Review slides for chapter.

3. Take notes as needed.

4. Do Problem Set for chapter.

5. Watch video“Walk-Through”by Professor Wooldridge.

6. Do STATA Problem Set for chapter.

7. Do USE STATA Problem Set for chapter (if one is assigned)

8. Keep your STATA iles organized as they will be very helpful as templates for future problem sets!

Learning Objectives

Program Learning Outcomes:

When you successfully complete the program requirements, you will achieve the following goals:

P3 Apply standard statistical and econometric techniques to data of various types.

P4 Construct advanced econometrics and other quantitative models to estimate, test, and forecast economic relationships.

Course Learning Outcomes (CLOs):

CLO1: Explain the underlying assumptions of and use ordinary least squares (OLS) to estimate econometric models.

CLO2: Estimate and interpret OLS models in the presence of various functional form and dependent and independent variable speciications.

CLO3: Test and correct for the presence of multicollinearity, heteroskedasticity, serial correlation, and other OLS misspeciications.

CLO4: Apply basic time-series econometric techniques to estimate econometric models involving time-series data.

CLO5: Use ixed and random effects models to estimate more complex econometric models involving panel data.

CLO6: Use instrumental variables and the two-stage least squares estimator to address omitted variables bias and/or simultaneity bias.

CLO7: Obtain interval estimates of and conduct hypothesis tests about population parameters.

CLO8: Use statistical software to organize and summarize data and estimate and test econometric models.

Required Text and Other Materials

Textbooks:

The following textbook is required for this course:

IntroductoryEconometrics:A Modern Approach,7th Edition, by Jeffrey Wooldridge. Cengage Learning, Boston, MA, USA (2020). The e-

version of the text comes with the purchase of access to course content on Cengage. Free access to the Cengage course content and the eText is available for a few weeks.

Minimum Technology Requirements:

The minimum operating systems for Canvas are:

Mac – OSX 10.8 or higher

PC – Windows 7 or higher

Also, your computer should be equipped with a and a

For the best experience with our Canvas Integrations (e.g., Panopto and VoiceThread), the recommended Browsers are:

Chrome 102 and 103

Firefox 100 and 101

You will also need Java, Cookies, and JavaScript, but the majority of the time, this will be managed by your browser automatically. To verify these are enabled, you can check this Canvas page.

Additionally, you will need to ensure that Third Party Cookies are enabled for our integrations to work. You can do this by following these instructions.

You will be expected to log on to Canvas frequently (daily), so a reliable internet connection is essential. We recommend that you have access to a stable internet connection with speeds of .

Expectations for additional software or plugins will be communicated within the details of each course:

Adobe Reader – other PDF viewers are not supported.

Microsoft Oice 365 - other software such as Google Drive may cause issues when converting between ile types and isn’t integrated into Canvas.

– Instructors may designate real-time virtual oice hours via Zoom. For more information on Zoom, please see the Zoom Quick- Start Guide.

For questions regarding Canvas or issues you are having, feel free to review the Canvas Student Resources or reach out to AAP technical support through any of the following methods:

Phone: 844-417-0874

Chat with an Expert

Email

Speciic Technology Requirements and Skills for this Course:

This course requires the use of a computer.

This course may require the use of technology and software to ensure . In some situations, students will be recorded, visually and through audio, during the exam. Additional information and directions will be provided in the course site when utilized.

Learning online requires some basic knowledge of computer technology. At a minimum, you need to be able to:

Navigate in and use Canvas

Navigate in and use Cengage

Create and save STATA .do iles and .log iles

Create and save MS Excel iles

Find basic resources on the Internet like additional help with STATA

Create and organize iles & folders on your computer

Send, receive, and manage email

Other equipment/websites/software/online resources:

The following online course system and software are required for this course:

Cengage (accessed through the Canvas course)

STATA (installed on your computer)

Evaluation and Grading

Grading Breakdown:

Grading Scale:

Your inal grade is calculated as the percentage of points earned on all the assignments. Your GRADES are in Cengage under the PROGRESS icon located on the right edge of the window. The PROGRESS icon is the one with a green circle around the shadow of a person’s head.

94 to 100

90 to less than 94

88 to less than 90

84 to less than 88

80 to less than 84

70 to less than 80

0 to less than 70

This course will follow the Advanced Academic Programs Grading Policies and Probation and Dismissal Policy. Assignment Description:

A homework assignment is called a Problem Set. There are three for most chapters. One Problem Set is a multiple    choice format covering your understanding of the chapter topics. The second Problem Set is exercise using STATA   where you answer research and analysis questions by following the video example. The third Problem Set is a STATA analysis like STATA video assignment but without an example video to guide you. All assignments are on Cengage.

Assignment Submission:

Students are required to adhere to the following guidelines when submitting written work:

Use correct citation format

Adhere to word limits for each assignment

Cite sources properly

The instructors are required to use the Turnitin tool for written assignments. Please review the JHU Ethics Statement prior to submission.

Assignment Feedback:

All assignments are done on Cengage and submitting is simply part of the process. It happens automatically as you       complete an assignment. The problem sets based on the Walk-Through video must be manually graded by the instructor so expect a delay for grading and feedback. When the Cengage system is doing the grading Cengage provides               immediate feedback on answers entered. Contact me by email at [email protected] for additional feedback as            needed. Your GRADES are in Cengage under the PROGRESS icon located on the right edge of the window. The                PROGRESS icon is the one with a green circle around the shadow of a person’s head.

Course Policies

Late Policy:

A schedule is provided in the syllabus for you to follow.

Assignments do not have a true deadline other than the end of the semester. You can always work on an assignment     even after the due date shown in the syllabus. This is because you can always go back and improve your score using the extra attempts when they are available. See the Extra Credit section for more details.

Extra Credit:

There is no extra credit! Use extra attempts to improve your grade.

Participation Requirements:

This is an online course so participation is a matter of doing the work in a timely manner. Cengage keeps track of the dates you work on things so it is possible to determine whether progress is being made.

Course Participation:

Time Management Expectations

It is expected that you look ahead to schedule your time. Plan to complete coursework across several days of the week rather than all in one day. Be sure to consider how unrelated activities impact your schedule as well.

Some assignments may take longer than others. Be sure to review the assignment directions at the beginning of the course so that you can plan your time accordingly. Please seek help before becoming frustrated and spending a     signiicant amount of time to resolve an issue.

Participation Requirements

Active participation within our online course requires you to log into Canvas multiple times throughout the week - a daily check-in is recommended. You are expected to read all announcements and complete course activities as noted in the  assignment guidelines to maximize your learning. Participation in activities should be consistent, of high quality, and     relect both a high level of academic thinking and your own personal perspectives, opinion, and ideas.

Online Etiquette

In this course, online discussion is not required. However, in all textual online communication, it is important to follow proper rules of online etiquette - communicating with others in a proper and respectful way.

Course Protocols and Getting Help:

Amendments to the Course

Changes to the course will be posted in the Announcements section of your course. Please check announcements every time that you log into your online course.

Course Communication

When you have a question about an assignment or a question about the course, please reach out to me via email  ([email protected]).  You can expect responses to questions within a few hours, although response times will be slower than this on holidays and weekends (and when I’m asleep).

Other Course Policies:

Your inal grade is calculated as the percentage of points earned on all of the assignments. The table above    shows the points to be earned in this course. There is no weighting other than what the number of points provide. Your course grade is equal to your total points earned divided by the total possible points for the semester and multiplied by 100 to get the percentage. Conversion of number grades to letter grades will be determined at the end of the semester following the Grading Scale shown above.

Additional instructions may be posted as an announcement and sent to you by email. You need to pay attention to both.

University Policies

Academic Policies:

University Policies

This course adheres to all University policies described in the academic catalog. Please pay close attention to the following policies:

All JHU students assume an obligation to conduct themselves in a manner appropriate to the Johns Hopkins University’s mission as an institution of higher education and with accepted standards of ethical and professional conduct. Students must demonstrate      personal integrity and honesty at all times in completing classroom assignments and examinations, in carrying out their ieldwork or other applied learning activities, and in their interactions with others. Students are obligated to refrain from acts they know or, under the circumstances, have reason to know will impair their integrity or the integrity of the University. Students and faculty in Advanced Academic Programs are required to adhere to the academic integrity guidelines and process laid out in the Graduate Academic Misconduct Policy Refer to the website for more information regarding the academic misconduct policy.

If you use Safe Assign or Turnitin or any other plagiarism detection tool add the following: Please note that student work may be     submitted to an online plagiarism detection tool at the discretion of the course instructor. If student work is deemed plagiarized, the course instructor will follow the policy and procedures governing academic misconduct.

JHU Ethics Statement: The strength of the university depends on academic and personal integrity. In this course, you must be    honest and truthful. Ethical violations include cheating on exams, plagiarism, reuse of assignments, improper use of the Internet and electronic devices, unauthorized collaboration, alteration of graded assignments, forgery and falsiication, lying, facilitating  academic dishonesty, and unfair competition. Report any violations you witness to the instructor.

Read and adhere to JHU’s Notice on Plagiarism.

All course materials are the property of JHU and are to be used for the student's individual academic purpose only. Any                   dissemination, copying, reproducing, modiication, displaying, or transmitting of any course material content for any other purpose  is prohibited, will be considered misconduct under the JHU Copyright Compliance Policy, and may be cause for disciplinary action.  In addition, encouraging academic dishonesty or cheating by distributing information about course materials or assignments which would give an unfair advantage to others may violate AAP’s Code of Conduct and the University’s Student Conduct Code.                 Speciically, recordings, course materials, and lecture notes may not be exchanged or distributed for commercial purposes, for        compensation, or for any purpose other than use by students enrolled in the class. Other distributions of such materials by students may be deemed to violate the above University policies and be subject to disciplinary action.

The fundamental purpose of the Johns Hopkins University's (the "University" or "JHU") regulation of student conduct is to promote and to protect the health, safety, welfare, property, and rights of all members of the University community as well as to promote the orderly operation of the University and to safeguard its property and facilities. As members of the University community, students

accept certain responsibilities which support the educational mission and create an environment in which all students are afforded the same opportunity to succeed academically.

For further information or to start the process of requesting accommodations, please contact AAP Student Disability Services at [email protected] and visit our website https://advanced.jhu.edu/student-resources/disability-services/ for additional          resources.

You are responsible for understanding the university’s policies and procedures regarding withdrawing from courses found in the current catalog. You should be aware of the current deadlines according to the Academic Calendar.

You have a variety of methods to get help on Canvas. Please consult the resource listed in the "Help" link for important information.

Also, contact your instructor at the email address listed in the

syllabus.

As an instructor, one of my responsibilities is to help create a safe and inclusive learning environment on our campus. I also have   mandatory reporting responsibilities related to my role as a Responsible Employee under the Sexual Misconduct Policy &               Procedures (which prohibits sexual harassment, sexual assault, relationship violence and stalking), as well as the General Anti-      Harassment Policy (which prohibits all types of protected status based discrimination and harassment). It is my goal that you feel able to share information related to your life experiences in classroom discussions, in your written work, and in our one-on-one       meetings. I will seek to keep information you share private to the greatest extent possible. However, I am required to share             information that I learn of regarding sexual misconduct, as well as protected status based harassment and discrimination, with the Oice of Institutional Equity (OIE). For a list of individuals/oices who can speak with you conidentially, please see Appendix B of  the JHU Sexual Misconduct Policies and Laws.

For more information on both policies mentioned above, please see: JHU Relevant Policies, Codes, Statements and Principles.      Please also note that certain faculty and other University community members also have a duty as a designated Campus Safety   Authority under the Clery Act to notify campus security of certain crimes, as well as a duty under State law and University policy to report suspected child abuse and/or neglect.

Johns Hopkins is a community committed to sharing values of diversity and inclusion in order to achieve and sustain excellence.