96844 - STATISTICS

Learning outcomes

At the conclusion of this course, students will be able to describe how econometric techniques have been applied in the finance and economics literatures to enable causal inferences to be made from observational data. Students will become familiar with applications of empirical methods to analyse the effects of policy and program changes on economic and social outcomes.

Course contents

1. The “Experimental Ideal”

2. Observational Data and The Selection Problem

3. Regression and Causality

4. Instrumental Variables (IV) Methods

5. Sharp Designs in Difference-in-Differences Analyses

6. Fuzzy Designs and Generalised Difference-in-Differences

7. Applications of Quantile Regression

8. Count Data Applications of Panel Data Methods

Readings/Bibliography

Angrist J D and Pischke J-S (2009) Mostly Harmless Econometrics: An Empiricist’s Companion, Princeton University Press: Princeton.

Teaching methods

The teaching methods include

• Case Study-based classroom discussion and debate and some traditional lecture materials.

Lectures

The course involves the presentation and classroom discussion of journal papers and book chapters, although some traditional lecture materials may also be presented.

“Journal Club”

In addition to traditional lectures and readings, student participation is a central part of the course design and learning methods. Between one-third-to-one-half of most classroom sessions (apart from the introductory class) will involve the direct participation in discussion and debate. Tasks will include discussions in a “journal club” format: one or more class members will be asked to lead a discussion of a nominated paper; and typically at least one more student will be asked to be the “secondary” discussant of the paper. The role of the nominees is not to provide a presentation of the paper, but to lead the class discussion by preparing questions and comments about the paper. All class members will be expected to have read the paper and to contribute to discussion. The purpose of this approach is primarily to encourage students to bring the course materials to bear on the selected topics (together with their own knowledge and experience, where relevant) to encourage a critical discussion of the course contents and their relevance to contemporary issues.

Debate

Discussions and debate will be encouraged through the “journal club” approach.

Assessment methods

There are three elements of assessment:

1. Contributions to Classroom Discussion/Debate (20%)
2. Essay (30%)
3. Final examination (50%)

Contributions to Classroom Discussion/Debate (20%)

Contributions to the classroom discussions and debate are worth 10% of the final grade for this course. Contributions to debate obviously involve participation in debate, but the contribution to a debate depends on how much the participant influences a discussion by asking meaningful questions or making thought-provoking points. (This distinction will be discussed briefly in the first lecture.)

Essay (30%)

This item of assessment will be conducted as an individual assignment. The topic(s) for the assignment will be advised early in the term.

Final Examination (50%)

The final examination will be of 2 hours duration with 10 minutes’ perusal time.

Teaching tools

Slides and reading materials will be made available, when used, after each class.

Office hours

See the website of Luke Brian Connelly