|Estimating Econometric Models|
|Instructor:||Dr. Michael Johnson|
|Class Schedule:||Feb 26 to Apr 12
Tues and Thurs 12:30 to 2:00pm
|Important Course Pages|
This course is designed to introduce advanced econometric methods and related econometric theories useful for economists working in the food and resource sectors. The course introduces students to the techniques of causal inference, which are illustrated and assessed through extensive exploration of the environmental economics literature. Topics include instrument variables (IV) estimation, experiments and quasi-experiments (difference-in-difference estimation) and panel data methods (basic models and dynamic panel models).
- To learn various advanced econometric methods, estimation methods and related econometric theories. To apply advanced econometric modeling techniques using R to estimate models using real-world data and replicate results from published econometrics research.
- To critically evaluate published econometric research that uses advanced econometrics methods.
- To be able to formulate your own research question based on a given journal paper and data availability. To develop a small original research study that is an extension of a current research paper in the area of food and resource economics.
Student teams will conduct a final research replication project using advanced econometric methods taught in the course using a published paper and provided data set related to climate change, the environment, policy analysis or another issue related to food and resource economics.
BIG QUESTIONS & REAL-WORLD APPLICATIONS IN CLIMATE, FOOD AND THE ENVIRONMENT COVERED IN THE COURSE:
- Instrumental variables, an econometric tool to understand the causal effects of natural experiments, is used to draw the causal links between increased forest fires and health, and the effects of income growth on deforestation. Both these papers are among the ones used in our final research/replication project.
- Students gain valuable exposure to research that employs panel data methods to compare policies across different countries aimed at reducing carbon emissions.
- Finally, difference-in-difference methods are used to exploit the causal effect of policy changes for specific policies.
Your grade shall be determined as follows:
|Evaluation||Date||Percent of grade|
|Midterm Exam||TBA||30 percent|
|Assignments||Two Assignments||30 percent|
|Team Final Project||Due at the end of the course||30 percent|
|Class Participation||Contributions to class discussions.||10 percent|