Checking date: 28/04/2023

Course: 2023/2024

Quantitative Microeconomics
Bachelor in Economics (Plan: 398 - Estudio: 202)

Coordinating teacher: MORA VILLARRUBIA, RICARDO

Department assigned to the subject: Economics Department

Type: Electives
ECTS Credits: 6.0 ECTS


Requirements (Subjects that are assumed to be known)
An introductory course in Econometrics. Knowledge of the Econometric software gretl is recommended.
This course aims at providing you with basic/intermediate econometric skills used in empirical microeconomic research. The goal is to help you develop not only the ability to do empirical research in economics, but also the ability to understand estimators properties and critically read published research. This goal will be accomplished through classroom lectures, classroom practical sessions, and problem sets. Specifically, by the end of the course you should be able to: - Apply basic/intermediate econometric methods in problems of micreconomic choices. - Use microeconomics to understand empirical analysis. - Use appropriate software to implement quantitative microeconomics research. Specific skills you will be able to gain during the course are: - Understanding data limitations and their consequences in empirical analysis. - Choosing appropriate empirical strategies for each research question. - Interpreting results in terms of policy implications. General skills you will be able to develop during the course are: - Understanding the usefulness of alternative quantitative methods. - Programming skills in quantitative research. - Ability to use flexibly your knowledge of quantitative methods in different research scenarios. Last, the course should help you in gaining - Critical thinking in economic research. - A more open and constructive approach to research based on available information.
Skills and learning outcomes
Description of contents: programme
This course presents a wide range of quantitative methods for the empirical analysis of microeconomic decisions. The characteristics of the data, either by their nature or by the limitations of the available databases, introduce problems that require the use of specific econometric techniques. To delve into the study of these problems, practical applications are made to develop and analyze the practical properties of the techniques. Finally, Monte Carlo techniques useful for studying the properties in finite samples of the studied estimators will be presented. Throughout the course, a reference microeconomic problem (the decision to work) will be explicitly analyzed, highlighting at all times the applicability of the analysis to other contexts. The fundamental contents of the course are: - The Maximum Likelihood estimator. - Qualitative binary decisions: binary choice models. - Other qualitative dependent variable models: ordered, multinovariant and counting models. - Decisions with corner solutions: censored models. - Monte Carlo simulation. A more detailed program will be available at Aula Global.
Learning activities and methodology
The methodology will prioritize the intuitive presentation of problems and methodological solutions, as well as the management of microeconomic databases, in order for the student to learn to use econometric techniques and software competently. Particular emphasis will be placed on how the techniques presented are motivated by the nature of the economic problem and the limitations of the data. Likewise, the final objective of drawing relevant conclusions will prevail. The subject will be taught through theoretical lessons, computer practices and worksheets. To facilitate the follow-up of the theoretical lessons, students will have basic reference texts and slides with the outline of their contents. The worksheets will be corrected in the small classes. Likewise, students will have manuals for learning the computer programs that will be used in the subject. There will be four midterms and there will be four worksheets. Each teacher, at the beginning of each semester, will indicate the day of the week, the time and the place where the tutorials will take place.
Assessment System
  • % end-of-term-examination 0
  • % of continuous assessment (assigments, laboratory, practicals...) 100

Calendar of Continuous assessment

Basic Bibliography
  • Damodar N. Gujarati, Dawn C. Porter. Basic Econometrics. Mc Graw Hill. 2004
  • JEFFREY M. WOOLDRIDGE. Introduction to Econometrics: A modern approach. Thomson USA. Second Edition
Detailed subject contents or complementary information about assessment system of B.T.

The course syllabus may change due academic events or other reasons.