Department of Economics University of Chicago Department of Economics

Economics 312, Empirical Analysis III

Part 2: Alternative Approaches to Learning from Data
Spring 2019

Instructors: Lecture times: Tuesday and Thursday, 5:00 - 6:20pm
Lecture classroom: Saieh 146
Teaching Assistants: TA session times: Wednesday, 6:30 - 7:20pm
TA session classroom: Saieh 146

TA Office Hours: Monday, 1pm - 2pm and Friday, 3pm - 4pm
TA Office Hours Room: Graduate Lounge, Saieh Hall, Room 201

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Class Overview

This is the third course in the first year empirical economics sequence in the Department of Economics. The goal of this course is to teach economics students to learn from data. The course stresses the use of various econometric methodologies to explain the phenomena and test models in order to address economic policy questions, broadly defined. A variety of approaches will be presented reflecting the interests and training of the two instructors who will co-teach this quarter. They will each take roughly half of the total course time, but in various formats. Heckman will post handouts for each of his lectures. There will also be a weekly tutorial taught by the teaching assistants.

Class Requirements

A final and a series of problem sets due each week in class. Assignments will include both analytical problems and empirical problems that will require the use of statistical software. There will be no midterm exam.

Problem Set Requirements

Problem Sets will be due each week on Tuesday in the beginning of the class. Please submit both a paper copy (hand in to TA) and upload an electronic version to Canvas (no late submissions to Canvas are accepted). Any programming language is accepted for the simulation exercises. If students have any questions on Problem Sets they should first ask TAs and only ask the professors if the TAs are unable to help.

For the problem sets in Part 2 of the course, you may form groups of up to 3 people. Please label clearly who's in each group with your full name as it is written on Canvas. Note that attempting to hand in with a group consisting of more than 3 members will result in a mark of 0.


Part 2: Alternative Approaches to Learning from Data


Plan of Lecture

Topic 1: Multiple Goals and Approaches to Empirical Analysis

  1. Abducting Economics
  2. Tests of Hypotheses: Frequentist, Baysian, Likelihood, Consilience

Topic 2. Causal Analysis and Structural Analysis

Topic 3. Some General Principles of Estimators

Topic 4. Discrete Choice

Topic 5. The Generalized Roy Model as a Fundamental Economic Model

Topic 6: Simultaneous Equations and Other Models for Social Interactions

Topic 7: Discrete Time, Longitudinal Data Analysis and Duration Analysis: Single State and Multiple State

Topic 8: Dynamic Discrete Choice Models


Topic I. Multiple Goals and Approaches to Empirical Analysis

Topic 2. Causal Analysis and Structural Analysis

Topic 3. Some General Principles of Estimators

Topic 4. Discrete Choice

Topic 5. The Generalized Roy Model as a Fundamental Economic Model

Topic 6: Simultaneous Equations and Other Models for Social Interactions

Topic 7: Discrete Time, Longitudinal Data Analysis and Duration Analysis: Single State and Multiple State

Topic 8: Dynamic Discrete Choice Models