Economics 375: Introduction to Econometrics Summer Quarter, 2009 Professor: Dr. John M. Krieg Webpage: http://www.cbe.wwu.edu/Krieg/ Office: Parks Hall #307 Office Hours: T,W,H 8-10 or by appointment Telephone: 650-7405 E-Mail: John.Krieg@wwu.edu Course Objectives: This course is designed to introduce students to the science of using data to test economic theories. The primary objective of this course is to cover the basics of linear regressions. These basics include estimating regression population parameters, measuring the precision of these parameters, model specification and an overview of the classical linear assumptions. Secondary objectives of this course include reviewing statistical techniques covered in prerequisites paying special attention to the differences between population and sample distributions, reviewing and understanding hypothesis techniques, and discussing the measurement of economic theory. Resources: The required textbook for this class is A.H. Studenmund's "Using Econometrics: A Practical Guide" 5th edition. I will post homeworks with their answers, along with answers to quizzes and midterms on my webpage. Students will also be required to use specialized econometric software to complete homework assignments. The College of Business and Economics supports two such programs: SPSS v.11.0 and Eviews v.4.1. Either program will complete the necessary assignments and are available for student use in the Parks Hall computer lab. Each program is freely available (with registration for this class) on any campus computer. I will concentrate on using Eviews in this class and have posted on my website a guide to getting started in Eviews. Because Eviews is also used in Econ 470 and 475, I will spend more time with it than with SPSS. Course Outline: The study of econometrics requires a good deal of mathematical and statistical knowledge. For this reason, it is imperative that you have completed both DSCI 205 and a college-level calculus course (Math 157 or Math 124). We will begin class by quickly reviewing statistical material learned in the DSCI 205 course. This material includes probability distributions, sampling, estimation, and hypothesis testing. Chapter 16 of Studenmund (5th edition) succinctly discusses this information. A quiz will be given after covering this material. After this quiz, we will cover chapters 1 – 5, take a midterm, cover chapters 6, 7, and given enough time, 8. The course will conclude with a comprehensive final exam. Grading: Your class grade will be composed of a midterm, a quiz, various homeworks, and a final. The quiz will take place after covering chapter 16 of the text (most likely the first Thursday of class). The midterm will take place after covering chapter 5 of the text (probably sometime around the 4th or 5th week of class). Homework will be assigned frequently; a preliminary guess will be 4 assignments throughout the quarter. Your grade will be determined by the following weights: Homework: 15% Quiz: 15% Midterm: 30% Final: 40% Summer Warning: The traditional 375 course taught in Fall, Winter, or Spring comfortably covers the first 8 chapters of the Studenmund book. This includes time for an in class quiz, a midterm, and usually an entire class period devoted to examining a published research paper. Summer quarters are shorter (6 weeks) and have less time spent in class (about 10% less). In addition, the summer quarter uses one of our class days for the final exam whereas a traditional quarter adds a finals week. This costs us about 6% more class time. Since students earn the same credits for 375 regardless of which quarter they are enrolled, in the summer I am obligated to cover the same material in the same depth as a normal quarter. Students have an obligation to come to class prepared—that is the only way that taking this class in the summer will work. A second issue arises in the summer quarter—homework. Traditionally I assign 7-8 homework in a quarter; given that I use homework as a way for students to reflect upon what they are learning, 8 assignments in the summer is too much. However, the homework that are assigned will come quickly and deserve your full attention. Disability Services: Students with learning disabilities are encouraged to contact Student Support Services at 650-3844 if they desire testing accommodations for this class. Classroom Dishonesty: Cheating on American campuses has become a common event. Surveys indicate that more than 80% of college graduates have cheated at least once during their tenure in higher education. Cheating is not a victimless crime. Grades earned through illegitimate means reduce the value of the grades earned by honest students. Therefore, students caught cheating will immediately be failed from my course. For more information regarding Western Washington University’s Academic dishonesty policy, please review the current Academic catalog, Appendix D.
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