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These course descriptions are not being updated as of August 1, 2016. Current course descriptions are maintained in LionPATH.

Economics (ECON)

ECON 466W Panel Data Models (3) Random and fixed effects, endogeneity, balanced and unbalanced panels, censoring of spells, differences in differences, applications.

ECON 466W Panel Data Models (3)

Panel data sets, consisting of repeated interviews over time of a panel of individuals (in effect, a time series of cross-sectional data on the same individuals) offer multiple opportunities for sophisticated econometric analyses, while at the same time posing some unique problems. This course will cover advanced econometric techniques for dealing with panel data. Random- and fixed-effects models are addressed initially, followed by consideration of endogeneity, balanced and unbalanced panels, censoring of spells, and differences in differences. The concluding part of the course will focus on applications.

The objective of the course is to provide students with exposure to models and techniques designed to deal with panel data (e.g., data on a set of individuals at various points in time), and to equip them with the skills to utilize those techniques in practical applications of data analysis.

In particular, students will learn to exploit the panel nature of a data set to allow for individual-specific heterogeneity (e.g., random and fixed effects). They will learn how to address endogeneity problems, which can arise for various reasons including forward-looking behavior of individuals. Because data are often not available for the same set of (e.g.) individuals at all points in time, care must be taken to deal with such unbalanced panels, especially when such data are absent because of actions of the individuals.

In addition, since this is a writing-intensive course, an additional objective is to provide students with the opportunity to develop their skills in writing in economics.

This course is one of a series of 400-level seminars, many of them writing-intensive, for advanced students in each of seven broad areas of economics. This writing-intense seminar is in the area of econometrics. The course will count toward both the major and the minor in economics.

 


General Education: None
Diversity: None
Bachelor of Arts: None
Effective: Summer 2008
Prerequisite: ECON 302 andECON 490

Note : Class size, frequency of offering, and evaluation methods will vary by location and instructor. For these details check the specific course syllabus.

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