- Docente: Luke Brian Connelly
- Credits: 6
- SSD: SECS-P/03
- Language: English
- Teaching Mode: Traditional lectures
- Campus: Bologna
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Corso:
Second cycle degree programme (LM) in
Law and Economics (cod. 5913)
Also valid for Second cycle degree programme (LM) in Law, Economics and Governance (cod. 5811)
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from Nov 09, 2023 to Dec 14, 2023
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 analyze the effects of policy and program changes on economic and social outcomes.
Course contents
This course covers applied methods ("econometrics" which, literally, means "economic measurement") for conducting economic and financial analyses. First, it covers the practical application of welfare economics using economic and financial investment appraisal techniques: cost-benefit analysis, cost-effectiveness analysis, and cost-utility analysis. We will explore how these techniques are applied to evaluate the impact of different patterns of resource allocation in the public sector. Second, it covers applications of modern techniques from micro-econometrics to other policy-relevant problems. These include applications of instrumental variable (IV), differences-in-differences, regression-discontinuity, quantile regression, and IV methods applied to randomised controlled trials (RCTs).
- Welfare Economics and its Practical Application in Economics and Finance
- Cost-Benefit Analysis
- Cost-Effectiveness Analysis
- Cost-Utility Analysis
- Applications of Econometrics: IV Methods
- Applications of Econometrics: Differences-in-Differences Analyses
- Applications of Econometrics: Regression Discontinuity Studies
- Applications of Econometrics: Modelling Distributions with Quantile Regression
- Applications of Econometrics: Analysing RCTs Using IVs
Readings/Bibliography
Journal papers, to be advised.
Reference texts:
Drummond MF, Sculpher M, Klaxton K, Stoddart GL and Torrance GW (2015) Methods for the Economic Evaluation of Health Care Programmes, 4th edn, Oxford University Press: Oxford.
Mishan EJ and Quah E (2007) Cost-Benefit Analysis, 5th edn, Routledge: London.
Angrist J D and Pischke J-S (2015) Masterin Metrics: The Path from Cause to Effect, Princeton University Press: Princeton.
Wooldridge JM (2020) Introductory Econometrics: A Modern Approach, 7th edn, Cengage: Boston (MA).
Teaching methods
Journal papers, to be advised.
Reference texts:
Drummond MF, Sculpher M, Klaxton K, Stoddart GL and Torrance GW (2015) Methods for the Economic Evaluation of Health Care Programmes, 4th edn, Oxford University Press: Oxford.
Mishan EJ and Quah E (2007) Cost-Benefit Analysis, 5th edn, Routledge: London.
Angrist J D and Pischke J-S (2015) Masterin Metrics: The Path from Cause to Effect, Princeton University Press: Princeton.
Wooldridge JM (2020) Introductory Econometrics: A Modern Approach, 7th edn, Cengage: Boston (MA).
Assessment methods
Seminars and Essays
Students will present seminars, either individually or in pairs or small groups, and write a brief paper (no more than five pages) about their presentation. This part of the assessment carries a weight of 40% of the course.
Final Exam
The final exam will comprise short-answer and essay questions and is worth 60% of the total assessment. A practice exam will be provided during the term.
Teaching tools
Teaching resources on the Virtuale site for the course, including lecture slides. Traditional lectures and student seminars.
Office hours
See the website of Luke Brian Connelly