Checking date: 10/04/2019


Course: 2019/2020

Quantitative Microeconomics
(13672)
Study: Dual Bachelor in Law and Economics (230)


Coordinating teacher: MORA VILLARRUBIA, RICARDO

Department assigned to the subject: Department of Economics

Type: Electives
ECTS Credits: 6.0 ECTS

Course:
Semester:




Students are expected to have completed
An introductory course in Econometrics. Knowledge of the Econometric software gretl is highly recommended.
Competences and skills that will be acquired and learning results. Further information on this link
This course aims at providing you with the econometric skills used in empirical microeconomic research. You should gain an understanding and working knowledge of using econometric techniques for cross sections and panel data to conduct applied research. The goal is to help you develop not only the ability to do empirical research in economics, but also the ability to critically read published research. This course aims at providing you with the econometric skills used in empirical microeconomic research. You should gain an understanding and working knowledge of using econometric techniques for cross sections and panel data to conduct applied research. The goal is to help you develop not only the ability to do empirical research in economics, but also the ability to 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 quantitative 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 both at government and firm level. 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.
Description of contents: programme
The course tours through a wide selection of microeconometric techniques designed to conduct applied research in microeconomics. As a reference, the model of labour force participation and human capital will be used to motivate different econometric methods. Throughout the course, other empirical applications will be referred to, highlighting how the techniques learnt in the course can be successfully applied in other research questions. The course is divided in the following major topics: - Maximum Likelihood and Monte Carlo Simulation. - Binary choice models. - Other qualitative dependent variable models: ordered, multinomial, and count data models. - Corner solutions: censured models. A more detailed programme will be made available in the web page of the course.
Learning activities and methodology
Practice is essential to learning and understanding econometric tools. Therefore, there will be computer practices sessions and exercises as homework. Monte Carlo simulation techniques will help understanding the statistical properties of the estimators. The course will focus on how the nature of the data available and the research questions lead to the selection of appropriate econometric techniques. Moreover, most of the motivations for all topics dealt with in the course will stress the need to be able to infer policy implications from the results of the research. There will be lectures, computer sessions, and classes where exercises will be solved. Slides and references are provided to facilitate successful course completion. Students will have access to basic manuals to learn the software chosen in the course. There will be four mid-term exams and four exercise sets. Each lecturer will announce at the beginning of the term the day, hour, and place where tutorials will be conducted.
Assessment System
  • % end-of-term-examination 0
  • % of continuous assessment (assigments, laboratory, practicals...) 100
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

The course syllabus and the academic weekly planning may change due academic events or other reasons.


More information: http://www.eco.uc3m.es/~ricmora/miccua/