B0025 - APPLIED METHODS FOR ECONOMIC AND FINANCIAL ANALYSIS

Conoscenze e abilità da conseguire

Al termine del corso gli studenti saranno in grado di descrivere in che modo le tecniche econometriche sono state utilizzate nella letteratura di finanza e di economia. Gli studenti familiarizzeranno con l’applicazione di metodologie empiriche all’analisi degli effetti socio-economici delle politiche pubbliche.

Contenuti

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).

1. Welfare Economics and its Practical Application in Economics and Finance
2. Cost-Benefit Analysis
3. Cost-Effectiveness Analysis
4. Cost-Utility Analysis
5. Applications of Econometrics: IV Methods
6. Applications of Econometrics: Differences-in-Differences Analyses
7. Applications of Econometrics: Regression Discontinuity Studies
8. Applications of Econometrics: Modelling Distributions with Quantile Regression
9. Applications of Econometrics: Analysing RCTs Using IVs

Testi/Bibliografia

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).

Metodi didattici

Traditional face-to-face lectures and student seminars.

Modalità di verifica e valutazione dell'apprendimento

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.

Strumenti a supporto della didattica

Teaching resources on the Virtuale site for the course, including lecture slides. Traditional lectures and student seminars.

Orario di ricevimento

Consulta il sito web di Luke Brian Connelly