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Assignment 4 - Economics 3441 Theory of Labor Markets...

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Unformatted text preview: Economics 3441 , Theory of Labor Markets Spring 2010 April 7, 2010 . W. Alpert DATA ASSIGNMENT (THE LAST ASSIGNMENT!) DUE APRIL 28, 2010 The internet has dramatically expanded our access to economic data. Much of this data has to do with labor economics. The purpose of this assignment is to give you some hands—on experience with simple but useful models in labor economics and labor economics data and econometric methods. I would like you to develop a model that relates a particular variable of your choice to some other variable or set of variables. You will choose the first variable (dependent variable) by determining how important it is for economic development (for example, real per capita income annual growth rates seems very important to me). You will then choose another variable or set of variables that explain the first variable you choose in a causal way. For example, you might think that real per capita GDP growth is related to average education of the population and to the population growth rate or whatever other independent variables you think might affect the dependent variable — the real per capita GDP annual growth rate IN A CAUSAL WAY! The primary (and, for this project, reguired) technique is multiple linear regression (see regression material posted on Huskiest). Regression analysis can be done easily with Excel. ‘1 will show you how to do this in class with results posted on Huskiest. You then find some data either for a single country over time or for a single country over time and estimate your model using a linear regression. Finally, and most importantly, you interpret what you have found! Thus, this assignment has three parts! k D046 aka " O v“ SEQXOA 7 C3?) . \W {23.15% D245“ $0M ..-V\ OL 'w W t P \f geopélfi. . - “ ,‘ “v 9 This meaén hat you develop a hypothMWg. real economic growth rates per capita are determined by the average education in a society and the amount of foreign aid it receives. What variables should be held constant? Perhaps the population growth rate needs to stay constant for the education effects on growth to have impacts. Perhaps foreign aid should lagged — it has its effects the year after it was received. Your hypothesis can be simple or complex, but ou : ed a e. I always recommend simplicity or ‘ htt ://en.wiki edia.or ' ‘ Second, you need to find some data either for a number (I would suggest no fewer than 30) of countries for a single year (cross section) or a single country over time (again 30 years would be adequate) and test your hypothesis. Start with the Huskiest and links that I have put up for this assignment. 1 Third, you must explain your results. It doesn’t matter whether or not . your hypothesis worked out, but what does matter is how you explain either why it did (which suggests there are coefficients that equal twice their standard errors (t = statistics of 2.0 or more) and of the predicted sign e.g. we would anticipate that education would be positively related to growth) or why it did not and what might be a better hypothesis. On Wednesday, April 14, I want you to submit a l-page proposal that briefly describes what you plan to do: the statistical relationship you plan to study; the specific variables you will use; Specific data sources; and why knowing more about this relationship might be useful. The proposal will not be graded, but you must submit one to receive a grade on the empirical project. On Wednesday, April 28, the final report (5- 10 double-spaced, typed pages) will be due. We will talk more in class about the substance and format of the final report. Your grade on the \ final report will be based on content and execution (structure, grammar, spelling, etc.). From time to time, I will provide you with copies of short articles or direct you to relevant internet sites for other information. In addition, links to some economic development sites are provided on Huskiest. Also, note that each chapter in the textbook ends with a list of specific references, which are almost unexceptionally available through the library and their links on the Internet. Finally, the library also has a X number of edited books containing papers on economic development - related topics, which can be ordered from the Storrs Campus and elsewhere through interlibrary (campus) loan. I encourage each of you to explore other sources of information (books, government reports, magazines, newspapers, websites, etc.). If you come across something of particular interest, please bring it to our attention. If you currently have (or develop) a strong interest in a particular subject and would like to read further, let me know and I will try to point you in the right direction for either your personal interest or for this project. Thus the important dates for this project are: APRIL 14, 2010 SUBMISSION of RESEARCH PAPER PROPOSAL 1- page proposal for research paper DUE. APRIL 28, 2010 FINAL PROJECT DUE! NO LATE PAPERS ACCEPTED FOR GRADE OTHER THAN “F”. http://www.bls.gov/ http://www.ilo.org/global/lang--en/indexhtm http://www.newyorkfed.org/index.html http://www.federalreserve.gov/ http://www.gao.gov/ http://www.commerce.gov/ http://2010.census.gov/2010census/index.php http://www.nber.org/ (Data Link is 4th down in left column.) http://www.bea.gov/ And many more. ...
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Assignment 4 - Economics 3441 Theory of Labor Markets...

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