Fall2011Klein401

Fall2011Klein401 - Econ 401: Advanced Econometrics Roger...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 401: Advanced Econometrics Roger Klein; Fall 20011: MW 4:30-5:50, SCOTT 201 Econometrics is concerned with formulating, estimating, and testing eco- nomic relationships. In this course, we will consider estimators and tests for models that di/er from the linear model considered in Econ322. As an to depend linearly on such explanatory variables as education, experience,. .. In this case, the coe¢ cient on education is termed the return to education and is constant. In particular, the return to education is assumed to be the same when you graduated high school as when you graduate Rutgers. Yet, it would seem that the return to education may not be the same for all education levels. In non-linear models, the return to education will not be constrained to be constant. Accordingly, such models may provide a better description of the behavior in which we are interested. We will consider such models in this course. In other models of interest, the sample may be selected in some unusual manner that results in a problem termed sample selection. Testing and correcting for this problem will take us out of the linear model context. In still other examples, the dependent variable of interest may be only partially observed. For example, in a model that explains health status, health may only be observed as a categorical variable in that we observe whether an individual±s health is high, average, or low. a linear model will not be adequate for such data. Departures from the regular linear model will also be required when we seek to jointly explain several dependent variables of interest. For example, in studying murder rates, we might assume that such rates depend in part on some measures of police presence. On the other hand, police may not be randomly assigned to areas and instead our measure of police presence may in turn depend on crime conditions in the area of interest. 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
OFFICE HOURS: O¢ ce hours will be held in Rm. 311, NJ Hall, CAC at a time for which most are free. If you have questions and can not come at the announced times, email me we will arrange another time. Office : Klein @ economics:rutgers:edu Home : rogerwklein @ gmail:com Since each topic covered depends on previously covered material, I strongly encourage you to ask questions as we go along. I would also encourage you to ask any questions that you have about weekly problem sets before they are due. To do well in this course, you must be willing to ask questions about
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 8

Fall2011Klein401 - Econ 401: Advanced Econometrics Roger...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online