B1894 - ECONOMETRICS FOR MANAGEMENT

Conoscenze e abilità da conseguire

The course aims to provide students with a theoretical and practical knowledge of methods for conducting empirical research on panel data. Nowadays, panel data form the basis of much applied work in economics and management. The course is therefore designed to help students critically understand empirical articles and conduct their own empirical research. During the practical sessions, data samples and econometric software will be used to estimate models. This approach facilitates an understanding of the theoretical aspects of panel data and class discussion on the interpretation of the results obtained.

Contenuti

The schedule of the program goes along the following points:

1. A recap of basic econometrics
2. Introduction to panel data; longitudinal data, cross-section time-series data, multilevel data.
3. The fundamental role of heterogeneity: how to deal with it.
4. Static and linear panel data models: two or more levels, the error components.
5. Estimation methods: Pooled OLS; fixed and random effects; between; first differences.

 

Testi/Bibliografia

The material (articles, notes, programs and data-sets) will be distributed during the lectures and make available on the platform Virtuale.

The textbook is Wooldridge J.M. 2020 Introductory Econometrics. A Modern Approach, Cengage, 7th Edition, Ch 13-14;
A preliminary look at chapters 1, 2, 3, 4, 6, 7, 8 could be a useful recap of the required basic econometrics.

Metodi didattici

To provide a smooth transition from theory to practice in the
discipline of econometrics, theoretical lectures are associated with working sessions. During the hands-on empirical applications, students will use the laptop, an econometric software (Gretl is free, while Stata is available using the CAMPUS license and students' university credentials).
At the end of the course, participants will be able to critically evaluate articles that present empirical analyses, and to model and estimate their regression of interest, with the most appropriate methods based on the problem they face.

Modalità di verifica e valutazione dell'apprendimento

Some homework will be assigned during the course. These 'exercises' are intended to reinforce the concepts seen in class, to replicate the empirical analyses carried out together on the data and to familiarise students with the software. Students are encouraged to work together on the assignments (groups of up to 4 participants are allowed). Each assignment handed in by the deadline will offer an additional assessment.

The final exam will be similar to the homework assigned during the course but taken in the classroom on an individual basis. In other words, students are not allowed to communicate with classmates or any other people in any way (by phone, online chat, etc.), this will be a violation of the University’s Ethical Code of Behaviour. The final exam’s test will be held on the EOL platform; you will find a STATA dataset and a research question in a word file.

Registration on Almaesami is mandatory for the final examination.

Assessment of homework and class assignments:
3/28-30L: the write-ups reveal a competent and comprehensive knowledge of the subject matter and an excellent ability to understand and perform analytically.
2/24-27: the write-ups reveal an appreciable degree of knowledge of the subject and a good ability to understand and perform analytically.
1/18-23: the write-ups are disordered, with theoretical and methodological inaccuracies.
0/<18: wrong or not delivered write-ups.

Strumenti a supporto della didattica

Theoretical lectures are associated with working sessions; during them students will receive the suggestions needed to run their own empirical analysis. The data-sets and the programming files to perfom applied analyses will be provided during the lectures. The distributed material (articles, notes, programs, and data-sets) will be make available on the Virtuale platform.

Software STATA: click here

Orario di ricevimento

Consulta il sito web di Maria Elena Bontempi