Instructor - College of Liberal Arts



ECON/AREC 335: Introduction to EconometricsInstructorChris Blake, Ph.D. CandidateOffice: Clark B205Office Hours:On Campus: WRF 8:00 am – 9:00 am, or by appointmentEmail:christopherdblake34@Term Start:August 22Term End:December 9Course DescriptionThis course is an undergraduate-level introduction to econometrics, the social science in which the tools of economy theory, mathematics, and statistical inference are applied to the analysis of economic phenomena. We will study and apply regression analysis to various data sets in order to familiarize students with the core concepts of estimation of economic parameters, prediction of economic outcomes, and statistical inference.Course ObjectivesBy the end of this course, you should be able to:Understand the nature and scope of econometrics as a social science.Use statistical analysis, including the classical regression model, to estimate relevant economic parameters, predict economic outcomes, and test economic hypotheses using quantitative data.Understand the basic assumptions of the classical linear regression model, and identify and correct (if possible) any violations of these assumptions, such as autocorrelation and heteroskedasticity.Develop and maintain a working knowledge of econometrics that will provide a basic foundation for future study in econometrics and statistical techniques.Course MaterialsCourse WebsiteThis course will use Canvas as the primary mode of communication and disseminator of information. You can access Canvas here: . Login using your Colorado State University eID and password. Laptop or Similar Device (Good to Have)Laptops will be an invaluable resource in class as we will often be performing walkthroughs of problems and using data as we cover topics.Required SoftwareWe will mainly rely on Gretl for graphics, data management, basic statistics, and econometric estimation. You will use Gretl to complete problem sets and empirical exercises. Gretl is a free and user-friendly econometric software package. You can download and install Gretl using the following directions:Go to gretl.On the left-hand side, click on “gretl for Windows” if you are a Windows user, or click on “gretl on Mac OS X” if you are a Mac user.FOR WINDOWS USERS:Check to see that your PC meets the system requirements, and then download the latest release by clicking the “gretl-2016c.exe” or “gretl-2016c-64.exe” link. Your download should begin automatically.FOR MAC USERS:Follow the instructions on-screen to determine if your Mac has an Intel or PPC processor. Once determined, click on the appropriate button. Again, follow the on-screen instructions to download Gretl.Required Online Homework Website and eBook: MindTapHomework will all be through our homework platform that accompanies the book: MindTap. MindTap is a publisher website “shell” that uses Aplia for homework assignments while also giving them access to many other valuable resources such as Notecards and practice problems. Purchasing access to MindTap will grant you access to these practice problems, Aplia homework sets, and an eBook. This course is using an Opt-In program from the bookstore designed to make acquiring course materials easier. Please read the following information about this below:Access Instructions for StudentsYou will have courtesy access to MindTap until the Add/Drop Date. If you choose to opt out of the program provided by the CSU Bookstore, you will need to purchase an access code of your own in order to complete your homework.If you choose not to opt out, a code will be emailed to you which will provide you access to class materials for the remainder of the semester after the Add/Drop date.Please check your email (colostate.edu address) after Add/Drop date to receive the full code.Pricing and Billing InfoAccess is free until the Add/Drop date, after which the Inclusive Access price will be billed directly to your CSU student account (unless you have chosen to opt out of the program). Information on opting out is listed below.The negotiated price for the Inclusive Access program is $108.00 and includes MindTap access in addition to the eBook.Opting Out of the Inclusive Access ProgramIf you choose an alternative method of access to the online content and homework platform, you must opt out of the program prior to the Add/Drop date to avoid billing. Once opted out, you must purchase the access code on your own to continue with the semester.If you would like to opt out, click here: bookstore_optout@mail.colostate.edu.Reference “ECON 335.002” in the subject line.Include your name, full course information, and CSU ID number in the body of the email.If you opt out by accident, you can email kurt.kaiser@colostate.edu to have access re-instated and billed. Include your name, full course information, and CSU ID number in your request.Dropping the CourseIf you drop the course prior to the Add/Drop deadline, you will automatically be opted out and will not be billed. If you drop the course after the billing deadline, you will have 5 days to notify the Inclusive Access team to request a refund. Use the following email address to make contact with them and for any questions regarding the Opt In program: bookstore_optout@mail.colostate.edu. Optional Physical BookOur physical textbook, which is optional is: Introductory Econometrics: A Modern Approach, by Jeffrey M. Wooldridge (6th edition), ISBN-13: 978-1305270107. While having a physical copy of the book is optional, access to MindTap (and eBook that comes with it) is not.Course StructurePrerequisitesECON 204 and ECON 202 (Principles of Macroeconomics and Microeconomics); and MATH MATH 141 (Calculus in Management Sciences) or MATH 155 (Calculus for Biological Scientists I) or MATH 160 (Calculus for Physical Scientists I); and STAT 201 (General Statistics) or STAT 204 (Statistics for Business Students) or STAT 301 (Introduction to Statistical Methods) or STAT 307 (Introduction to Biostatistics).As such I will assume that most students are familiar with (or can rapidly learn) basic economic theory, as discussed in ECON 202 and 204; basic statistical concepts, including probability distributions and hypothesis testing; algebraic concepts, including the ability to graph lines and curves in two dimensions; and a basic understanding of differential calculus. NOTE: The use of calculus in this course will be limited, but may be used from time to time in order to aid in the instruction of particular concepts.LecturesThis class meets every Tuesday and Thursday. While I do not take attendance, attending lecture will be very beneficial to your performance this semester.Expected Course TimeTo be successful, you will have to put in time outside of class to complete homework and study. The following table outlines an estimate of the time you will need to devote:Attend class3 hoursComplete homework2 hoursPrepare for exams1 hourPersonal study3 hoursTotal Hours per Week9 hoursGraded ItemsYour graded items this semester can be broken into three categories: Aplia Homework, Gretl Empricial Exercises, and Exams.Homework (on MindTap)You will be required to complete sixteen homework sets, one for each chapter of material covered this semester and one precursor assignment teaching how to complete Aplia assignments. Homework sets will go through MindTap and be due at 11:00pm on the deadline. Generally, deadlines will be the Monday after we have finished a chapter.Gretl Empirical ExercisesYou also will be required to complete two empirical exercises using Gretl econometrics software to aid in your understanding of the material and develop the software skills necessary to succeed in this course.ExamsThere will be three midterm exams to confirm and evaluate your understanding; as well as a cumulative final exam.Exam 1: Tuesday, 9.27.16 at 11:00amExam 2: Tuesday, 10.25.16 at 11:00amExam 3: Tuesday, 11.15.16 at 11:00amFinal Exam: Wednesday, 12.14.16 at 6:20pmGrading SystemAs this is an econometrics course, your final course percentage grade will be determined using the following algorithm:GRADE=.30average homework percentage score+.2012empirical exercises+.10midterm1+.10midterm2+.15midterm3+.15finalWhere midterm1, midterm2, and midterm3 are the three midterm exam scores, chronologically. Your average homework score will determine 30% of your final grade, your empirical exercises will determine 20%, and your exams will constitute the other 50%.The grading scale will be as follows:A+:97.5% – 100%B-:79.5% – 82.9%A:93.0% – 97.4%C+:77.5% – 79.4%A-:89.5% – 92.9%C:69.5% – 77.4%B+:87.5% – 89.4%D:59.5% – 69.4%B:83.0% – 87.4%F:59.4% or belowAny regrade requests must be made, via email, within 7 days of the grade being entered. No extra credit or bumps will be offered when it comes to final grades. Your final percentage will be rounded (using standard rounding: 0.44 rounds to 0.40 and 0.45 rounds to 0.50) to the nearest tenth of a percentage point. The way to improve your grade beyond what it otherwise would be is to work hard to understand the material.Course PoliciesClassroom EnvironmentIn the classroom, during lectures, the goal is to develop and maintain an environment of mutual respect: respect for me, respect for your fellow classmates, and my respect for you. What this means is that I will do all I can to teach effectively and listen to your questions, comments, jokes, or complaints; and respond as best I can. While at the same time you listen while I am talking, avoid talking amongst yourselves, keep your cell phones away, and keep laptop usage to in-class topics. If we all abide by these policies we can learn a great deal of econometrics, have enlightening discussions, and hopefully have a little fun along the way!Academic IntegrityWhile working together on homework is encouraged, cheating on exams or directly copying from someone else will not be tolerated. Any such misconduct will be taken very seriously in this course, and can lead to an overall F grade or worse. For more details about university policies relating to academic misconduct see . Problem sets and homework should be your own, as should all work submitted on exams.By remaining in this course, you agree to abide by the Colorado State University Honor Pledge. This is a statement of your intent to perform your work honestly and must be strictly adhered to:“I have not given, received, or used any unauthorized assistance.”Accommodation for DisabilityStudents with disabilities may be eligible for accommodations in accordance with Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act. It is the student’s responsibility to disclose any learning disabilities. Please contact the instructor if a special accommodation is required. To request accommodations, students should contact Resources for Disabled Students at (970) 491-6385 or go to . Documentation of disability is required and the RDS office will assist in this processMissing Work and ExamsThere will be NO make-up exams. If you must unexpectedly miss an exam you must present evidence of a medical or family emergency. If you know in advance that you will be unable to take an exam, contact the instructor as soon as possible to make other arrangements. In general, with an acceptable reason, you may arrange to take an exam early, but never late. No late problem sets or empirical exercises will be accepted. ................
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