Ch. 1 Introduction

Ch. 1 Introduction - EX: Tennessee class size experiments....

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1 | Introduction 1. INTRODUCTION (CH. 1) [1] What questions can we answer? (1) Does reducing class size improve quality of elementary school education? Estimate how much. (2) Is there racial discrimination in the market for home loans? Estimate how much. (3) Cigarette taxes reduce smoking? Estimate how much. (4) What will the GDP growth rate next year? [Back to the future?] Forecasting. (5) Are people’s consumption decisions rational? Testing hypothesis.
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2 | Introduction [2] Data: Sources and Types (1) Experimental V.S. Observational data Experimental data: • Data from experiments.
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Unformatted text preview: EX: Tennessee class size experiments. Adequate to analyze the causal effect of one variable on the other. Observational data: Non-experimental data. EX: Survey data, historical records on mortgage applications. Hard to evaluate causal effects. 3 | Introduction (2) Cross-Section Data Consist of multiple entities observed at a single time period 4 | Introduction (3) Time Series Data Consists of a single entity observed at multiple time periods. 5 | Introduction (4) Panel Data Consist of multiple entities, where each entity is observed at two or more time periods....
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Ch. 1 Introduction - EX: Tennessee class size experiments....

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