Lab+Manual - Economic Growth Lab Manual Prof. Paczkowski...

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Unformatted text preview: Economic Growth Lab Manual Prof. Paczkowski Spring, 2010 Lab Version 3.0 March 24, 2010 1 2 Introduction to the Economic Growth Labs The overall purpose of the Economic Growth Labs is to promote a greater understanding of economic growth and quantitative research by having student actively study cross-country data using the tools learned in statistics (a.k.a, Stat 101) and econometrics. The plan is to have a set of lab assignments for each major part of the determinants of economic growth (e.g., population, technology, and so forth) thus allowing students to explore data on their own. Quantitative research is defined as a combination of econometric modeling, graphical analysis, and simple Stat 101 descriptive displays. Students should be adept at all three by the time they leave this course. The primary tool at this stage of the labs is the free software GRETL. This can be obtained at http://gretl.sourceforge.net/ A list on the left side of that web page will direct you to the download area for your type of computer (PC or MAC). Download and install the software for your own use. An excellent online (eBook) tutorial on GRETL can be found at... http://www.learneconometrics.com/gretl/ebook.pdf The software will be demonstrated in class as part of the lectures. For the more adventuresome, there is a link between GRETL and R. R is an advanced statistical programming language that is also free on the Internet. Just Google R. R has packages or specialized sets of functions that extend Rs capabilities. One of these is a package called ggplot2 which produces high quality graphs. See me if you want to learn some R programming. Future versions of these labs may use R rather than GRETL. R is not a requirement for this semester just GRETL. There are two sets of questions to each lab: Pre-lab and Post-lab. The Pre-lab questions are meant to get you to think intuitively about an issue or relationships. Basically, if you were to stand up in front of the class or your boss once you graduate, what would you say 3 4 in response to questions that you did not have the chance to collect data on, investigate, or ask someone else. The answers are your bench-marks, your stakes-in-the-ground for the Post-lab questions. The Post-lab questions are the detailed questions on the exercise what did you learn? You should be able to check what you learned once you had data and did some investigation against what you intuitively thought without the data and investigation. Were you correct or in the ball park or completely off-base? You have to submit detailed answers to both sets of questions. 5 SAMPLE LAB SUBMITTAL PAGE Name: Date: Lab#: Abstract In 2 3 well written sentences, describe what you learned about the problem , not about econometrics or the use of the software....
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Lab+Manual - Economic Growth Lab Manual Prof. Paczkowski...

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