1 Intro - Ji Hee Kim PDF

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Ji Hee Kim...

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ECN301/MSB301

Econometrics 1. Introduction

Jihee Kim [email protected]

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Course Logistics  Mon/Wed 2:30pm-3:45pm  Grading Policy • • • •

5 Assignments 25% Midterm 20%, Final 20% Class Project 30% Participation 5%

 Our TA •

Keeyeon Park, [email protected]

 Office Hours • •

Jihee: Tuesdays 12:30-1:30pm @N5 2108 or by appointment Keeyeon: TBA

 In the Classroom • • •

Help me learn your names: bring your name tag Questions, Questions, and Questions: please interrupt me No cellphones/laptops/tablets 2

Course Details  Recommended(-but-not-required) Textbooks • •

Hayashi F. Econometrics, Ch.1 & 2, 2000 (available online) Angrist, J. D. and Pischke, J. S. Mastering 'metrics: The Path from Cause to Effect. 2014

 Other Good References • • •

Gujarati, D. N. and Porter, D.C. Basic Econometrics, 5th ed., 2009 Angrist, J. D. and Pischke, J. Mostly Harmless Econometrics: An Empiricist's Companion, 2008 Greene, W.H. Econometric Analysis, 7th ed., 2012

 Prerequisites • •

Basic linear algebra, stat/probability Some economics

 Course Homepage • •

Will use KLMS: klms.kaist.ac.kr Check it frequently

 Exam Schedules • •

Midterm on Wed, Apr 18th 1-3pm Final on Mon, June 18th 1-3pm

 Class Project 3

What Do You Expect from This Course?  ???

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You’re in the right place if…  you’d like to learn how to analyze data in social sciences  you’re interested in how economists prove their ideas  you’re planning to study economics/finance/business/… in graduate school  you’d like to work on a economics research project …

This course is all about learning research “tools”: you’ll learn the most powerful tool for your academic research

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Econometrics  A field of economics  Mathematics? Statistics?  Empirical measurement of relationships postulated by economic theory  econometrics is primarily concerned with the empirical determination of economic laws

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Example: Keynes’s Consumption Function  Theoretical Model: Consumption C = f(Income X) • • • •

dC/dX>0 dC/dX...