Econometrics Messages

Course Projects

(posted: 29 Nov 2023)

On Wed 29 Nov, we'll continue our discussion of datasets. The course project is a marathon, not a sprint. So to focus your mind on your final (desired) result, please type a project proposal and share it with me on Mon 04 Dec.

Zoom Link

(posted: 22 Nov 2023)

For students off-campus, here's a link to our: ClassZoom. See you this afternooon!

  • Meeting ID: 931 0752 2637
  • Passcode: 585100

Midterm and Panel Data

(posted: 17 Nov 2023)

To check your comprehension, please submit a handwritten "take home midterm" during class next week (20 or 22 Nov). As discussed in class, please answer the "review for first exam" questions at the end of the course syllabus.

On Mon 20 Nov, we'll discuss lecture 5 on Panel Data. To prepare, please read Studenmund chap. 16 and Kennedy chap. 18.

Gauss-Markov Assumptions

(posted: 03 Nov 2023)

On Mon 06 Nov, we'll continue our discussion of lecture 4 on the Gauss-Markov assumptions. To prepare, please read Kennedy chaps. 5, 6 and 7.

Maximum Likelihood and Hypothesis Testing

(posted: 13 Oct 2023)

Over the next two weeks, we'll discuss lecture 2 on maximum likelihood and lecture 3 on hypothesis testing. To prepare, please read Kennedy chaps. 1–4 and Studenmund chaps. 4&5; and please work through problems #2&3.

Zoom again

(posted: 27 Sep 2023)

We'll meet via Zoom today. Below are the meeting details:

more linear regression

(posted: 27 Sep 2023)

As a preface to our discussion of hypothesis testing, during today's session, we'll discuss the regression models in my Analysis of the "Biagi Law" and we'll discuss the monopsonist and minimum wage problem.

Then we will not meet again until 11 Oct. Best wishes for a joyful holiday!

Zoom today

(posted: 20 Sep 2023)

I hope you're enjoying the holidays. We'll meet via Zoom today. Below are the meeting details:

  • Zoom Meeting (link)
  • Meeting ID:  939 4502 4706
  • Passcode:  doviak20

linear regression

(posted: 08 Sep 2023)

On Mon 11 Sep, we'll finish our discussion of problem #4. Then, having seen regression in the abstract, we'll consider the regression models in my Analysis of the "Biagi Law". To prepare, please read the paper and study my monopsonist and minimum wage problem.

And on Mon 13 Sep, we'll derive the OLS estimates in our discussion of problem #1.

Yiddish and the Law of Large Numbers

(posted: 08 Sep 2023)

The NYTimes recently published an essay on the state of Yiddish. The essay is interesting in its own right, so I recommend it to you.

And the similarities with the state of Sicilian make me think that we can discuss both languages, natural language processing and the Law of Large Numbers.

If you're interested, please read those two essays and compare:

The Napizia translator was trained on 20,000 Sicilian-English sentence pairs and 10,000 Sicilian-Italian pairs. The modernMT translator was trained on 1.1 million Sicilian-English pairs and zero Sicilian-Italian pairs.

If the only difference was the number of sentence pairs in their training sets, then according to the Law of Large Numbers, the modernMT translator should exhibit better translation quality than the Napizia translator.

To the extent that you are able (i.e. recognizing that you may only have a small knowledge of Sicilian), compare the two models and then let's discuss the Law of Large Numbers.

Happy Labor Day!

(posted: 04 Sep 2023)

In observance of Labor Day, our class will not meet today. We'll meet again as usual on Wednesday. Happy Labor Day!

let's get busy

(posted: 29 Aug 2023)

On Wed 30 Aug, we'll review background on statistics and probability and discuss ordinary least squares. To prepare, please read Studenmund, chaps. 1, 2 and 3. And please begin studying the problem set. We'll discuss problem #4 first, then return to #1. And to assist you, I have provided my answers to #1.

wxMaxima issues

(posted: 29 Aug 2023)

As one student discovered, the security features of macOS quarantine wxMaxima, preventing its installation. To lift the quarantine:

xattr -d com.apple.quarantine $HOME/Downloads/Maxima-5.43.0-VTK-macOS.dmg

For more details, see the wxMaxima installation instructions by Univ. of New Haven.

final syllabus

(posted: 29 Aug 2023)

I have posted a final version of the syllabus. There are no changes. Thank you for giving me a chance to check it one last time.

Welcome to Econometrics

(posted: 27 Aug 2023)

Welcome to Econometrics. This website helps me organize the course. I hope you find it helpful.

I have posted a copy of the syllabus. Please review it and the materials listed on the metrics page. And in case you ever need them, I keep old messages on the message board page. I hope this way of organizing the course helps.

back to basics

When I began teaching economics (many years ago), I always began the first lesson with a discussion of assumptions. The most important part of any economic model are the assumptions. A model with good assumptions should make good predictions.

This semester, I want to once again begin with a discussion of assumptions. So as a first assignment please watch and read:

Then throughout the semester, let's pay close attention to the assumptions of our models.

working with data

As an example of how to measure the effect of a policy change, I will often discuss my Analysis of the "Biagi Law". To explain my choice, I wrote a page about Teaching with the "Biagi Law" Data.

And to learn econometrics, you must do econometrics, so this course provides a few datasets and some null hypotheses to help you learn how to conduct an analysis of the data. And to help you more, one student produced a video of me exploring a dataset. I hope you enjoy it.

textbooks

The textbooks that we will use are A.H. Studenmund's Using Econometrics: A Practical Guide and Peter Kennedy's A Guide to Econometrics.

To get the best deal on the Studenmund textbook, compare prices at Amazon and Alibris. And go ahead and buy a used copy. Then use your savings to buy a used copy of Kennedy's Guide. To get the best deal, compare prices at Amazon and Alibris.

let's get started

After reviewing background on statistics and probability, we'll discuss ordinary least squares. To prepare, please read Studenmund, chaps. 1, 2 and 3. And please begin studying the problem set. We'll discuss problem #4 first, then return to #1. And to assist you, I have provided my answers to #1.

I'm looking forward to working with you this semester.

Sincerely,
- Eryk Wdowiak

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