INTTRODUCCTION TTO ECONNOMETRICS (ECCON 3335) SYLLAABUS, FALL 20
014 INSTRUCTOR Dr. Anita Alves Pena Email: aniita.pena@colostate.edu ((Please indicaate that you aare in the online class in yo
our email.) Phone: (970) 491‐0821
1 with my nam e as it is a shaared machinee) Fax: (970)) 491‐2925 (iff use, include cover sheet w
Skype ID: anitaapena Office hou
urs: on campu
us on Tuesdays, 1:30‐3pm (Clark C312) ; regular appointment win
ndows by phone/ch
hat/Skype on TThursdays, 1::30‐3pm MSTT (please emaail for an appo
ointment); other times maay be available by appointme
ent. Office ho
ours will startt Week 2 of thhe course. Term Starrt: August 25,, 2014 Term End
d: December 1
18, 2014 Class web
bsite: http://rramct.colostaate.edu  Lo
ogin using your Colorado SState University eID and paassword  Under Course List, click “20
014FA‐ECON‐3
335‐801: Intr oduction to EEconometricss”. COURSEE DESCRIPTTION Estimatingg statistical regression r
mo
odels of econ
nomic relatioonships; treattment of special problemss that may arise
e in analysis of economic data. This coursse is offered tthrough the D
Department o
of Economics at Colorado SState Universsity. Economeetrics is designe
ed to provide you with und
derstanding and ability to aapply the too
ols that econo
omists use in empirical investigation
ns. Economettrics applies sstatistical andd mathematiccal methods to the analysiss of est economic theories and estimate relaationships. TThis course is ddifficult but w
will provide data to te
practical sskills and therrefore should
d be extremelly valuable aft
fter completin
ng the class successfully. COURSEE PREREQU
UISITES ECON 202
2 (Principles o
of Microecono
omics); ECON
N 204 (Principples of Macroeeconomics); M
MATH 141 (Calculus in Manageme
ent Sciences) or MATH 155
5 (Calculus foor Biological SScientists I) orr MATH 160 (Calculus for Physical SScientists I); and STAT 201 (General Stattistics) or STA
AT 204 (Statisstics for Busin
ness Students) or STAT 301 (Introduction
n to Statisticaal Methods) oor STAT 307 (Introduction tto Biostatisticcs). The prere
equisites for the course forr degree‐seekking student w
will be enforcced. Economeetrics REQUIR
RES mathematical and stattistical metho
ods. COURSEE GOALS By the end of the course, you should be able to:
1. understand the nature and scope of eco
onomics as a ssocial sciencee. 2. usse statistical a
analysis, inclu
uding the classsical regressiion model, to
o estimate rellevant econom
mic parameters, prredict econom
mic outcomess, and test ecconomic hypo
otheses using quantitative data. Page 1 of 7
P
ECON 335: Introduction to Econometrics 3. 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. 4. develop and maintain a working knowledge of econometrics that will provide a basic foundation for future study in econometrics and statistical techniques. REQUIRED COURSE MATERIALS Text (required):  James H. Stock and Mark W. Watson: Introduction to Econometrics 3rd edition, Custom Edition for ECON/AREC 335 (S&W). ISBN: 9781269293679. This custom edition is available at the CSU bookstore.  Note that you can purchase an alternative text by the same authors: Introduction to Econometrics, 3rd Edition, 2011 (or any previous edition). The alternative includes the material from the custom edition (word for word though some chapter orderings are different) along with additional chapters on more advanced topics. Those of you who anticipate keeping your textbook after the semester for use as a reference manual for more advanced econometrics classes, graduate school, or jobs involving statistical analysis may elect to purchase the longer textbook instead of the custom edition. The full edition is available from online retailers. Statistical Software (required):  I recommend Gretl, which can be downloaded from http://gretl.sourceforge.net free of charge. (Note that both Windows and Mac versions are available by clicking on the links on the left‐hand side of the main page.)  However, if you are already familiar with alternative commercial software (e.g., STATA, SAS, EViews), you are welcome to use it for problem sets as long as you circle or highlight your answers. Since datasets for homeworks will be provided in Gretl format, it will be up to you to convert files for use with different software. Furthermore, I may or may not be able to answer questions about alternative software depending on what it is. SUPPLEMENTAL READINGS Supplemental readings and other materials will be provided in RamCT system, via the CSU Library electronic reserve, or by links to websites. If you are on campus, please note that there will also be a copy of the textbook on course reserves at the CSU library’s shelf reserves desk. TECHNOLOGICAL REQUIREMENTS The technology requirements for this online course are listed below: Hardware  A Windows or Macintosh computer with at least 2 GB of RAM and a fast, reliable broadband Internet connection (e.g., cable, DSL).  Recommended computer monitor and laptop screen size be 13‐inches or larger for optimum visibility of course material.  Computer speakers or headphones to listen to recorded content.  Enough space on your computer for 1) install the required and recommended software and, 2) save your course assignments. Software (see recommendations from CSU) 2 ECON 335: Introduction to Econometrics  Web browser (Firefox generally works well with CSU websites ‐ free download)  RamCT Blackboard Course (RamCT technical support)  Adobe Acrobat Reader (free download)  Flash Player (free download)  Microsoft Office (purchase)  Gretl or another statistical software INSTRUCTIONAL METHODOLOGY AND DELIVERY This course is delivered via distance education format using the CSU RamCT system. This format will use a combination of readings, online discussion, and other web‐based resources. You will interact with the instructor and other students using the communication functions provided by RamCT. You will submit assignments using RamCT. COURSE PRESENTATION AND PROCEDURES There will be 16 modules corresponding to the 16 weeks of the course (1 module per week). You should proceed through one module per week, which will be comprised of readings from the course texts, supplemental class notes/slides, problem sets, instructions related to final project, quizzes, items to help you prepare for the exams, and various outside sources of information such as additional readings and video content. ASSIGNMENTS, EVALUATION AND GRADING Grading will be based on six (6) problem sets (that will alternate between requiring written or computer work), two (2) midterms, an individual final project (that also will require computer work), and a cumulative final exam. Exams will require interpretation of computer output in addition to other topics. Note that the final project is worth as much as the final exam and therefore should reflect a significant amount of independent work. The final project will cover what you have learned over the full course up until the project due date. CAUTION: You will FAIL this class if you do not complete the computer work for the problem sets and individual final project in addition to the written portions of homeworks and exams. Problem sets will be assigned approximately one week before they are due. Instructions for the final project will be distributed after the first midterm. Your project will be based on data analysis and interpretation pertaining to a question that interests you. The two midterm and final exam formats will be modeled after problem sets. You are expected to submit your own work and to use no unauthorized assistance when taking exams. General instructions for exams will be distributed before the first exam. Practice exams will be distributed in the week before exams. Problem sets will not be accepted via email. Please submit all work (homework, projects, exams, quizzes, etc.) through RamCT. All assignments must be submitted in the correct format (Word or PDF) in order to be graded. Assignments in other formats will be considered late if I have to ask you to resubmit. Answers will be made available when a graded assignment is returned so that you may review and compare your work. 3 ECON 335: Introduction to Econometrics Forming online study groups via the “Coffee Shop” discussion postings is highly encouraged, though you are expected to submit your own write‐up which is not simply a transcription of another student’s paper. Course grades will be determined by the completion of problem sets, exams, and your final project, as shown below: Overall Individual Grade Assignment Weight Weight Problem sets * (6) = 5% 30% Midterm Exams * (2) = 15% 30% Individual Final Project * (1) = 20% 20% Cumulative Final Exam * (1) = 20% 20% TOTAL =100% Discussion posts and quizzes (open book and open note and submitted through RamCT) will be treated as extra credit toward the final project and exams categories respectively. Exactly how they will be applied will be announced after they are due. Therefore, I encourage you to do your best. A curve (unlikely) based on the final percentages of course points is possible, though not guaranteed and generally depends on how much other extra credit was offered. *Keep a copy of all work created for the course, including work submitted through RamCT Blackboard. Assignment* Frequency COURSE GRADING CRITERIA Grade Percentage Grade Indicates A+ 100+ A 93‐99.99 Excellent A‐ 90‐92.99 B+ 87‐89.99 B 83‐86.99 Above Average B‐ 80‐82.99 C+ 77‐79.99 C 70‐76.99 Average D 60‐69 Below Average F 0‐59 Failure There is +/– grading in this class. Note that my criteria for plus/minus cutoffs may be slightly different from some other instructors and that my definition of an A+ grade may be very different. 4 ECON 335: Introduction to Econometrics This course requires proctored examinations. Proctors are individuals who agree to administer examinations following the guidelines provided by Colorado State University. Exams or passwords are emailed directly to your proctor. All students must fill out the proctor identification form regardless of your proctoring method. If you are in Fort Collins, you can take your exam: 1. On campus in the Economics Department (email me) or at the offices of CSU OnlinePlus (OnlinePlus Contact Information). There is no cost for using these proctors. 2. With ProctorU (http://www.proctoru.com/colostate/) ‐ an online proctoring service that uses a webcam and microphone. To use this service, you must have access to a computer with a webcam and a microphone. There is no cost for using the basic ProctorU services. 3. With a person as a proctor (such as military educators, pastors or ministers, certified school teachers, school principals, supervisors or employers). There is may be a cost for using these proctors. If you are not in Fort Collins, you can take your exam: 1. With ProctorU (http://www.proctoru.com/colostate/) ‐ an online proctoring service that uses a webcam and microphone. To use this service, you must have access to a computer with a webcam and a microphone. There is no cost for using ProctorU. 2. With a person as a proctor (such as military educators, pastors or ministers, certified school teachers, school principals, supervisors or employers). There is may be a cost for using these proctors. A person acting as your proctor cannot be: A person acting as your proctor can be:  college or university testing center  fellow students, representatives,  subordinates of the student,  military educators,  coworkers, peers, friends, or  pastors or ministers,  related to the student in any way.  continuing education officers,  librarians,  certified school teachers,  school principals, or  supervisors. Additional information about proctoring is available on RamCT. COURSE POLICIES, EXPECTATIONS FOR ETIQUETTE, AND STUDENT BEHAVIOR You need to be self‐motivated to succeed in this class. Please put in your calendar the deadlines on the weekly class schedule and note scheduled office hours. Offensive or threatening treatment of an individual is not tolerated. Disruptive students online will be referred to university officials. Please respect professional courtesy online. 5 ECON 335: Introduction to Econometrics ACADEMIC INTEGRITY POLICY This course will adhere to the CSU Academic Integrity Policies and Guiding Principles as found in the General Catalog and the Student Conduct Code. Keep in mind that plagiarism is a form of academic dishonesty. As per university policy Academic honesty is imperative. Any student or student organization found to have committed or to have attempted to commit misconduct is subject to disciplinary sanction. For example, academic dishonesty includes but is not limited to: cheating, plagiarism, unauthorized possession or disposition of academic materials, falsification, or facilitation of acts of dishonesty. For more information, please use the link provided on RamCT. At a minimum, violations will result in a grading penalty in this course and a report to the Office of Conflict Resolution and Student Conduct Services. If you have any questions about what is permissible, please ask. CSU HONOR PLEDGE Academic integrity lies at the core of our common goal: to create an intellectually honest and rigorous community. Because academic integrity, and the personal and social integrity of which academic integrity is an integral part, is so central to our mission as students, teachers, scholars, and citizens, I will ask that you affirm the CSU Honor Pledge as part of completing your work in this course. While you will not be required to affirm the honor pledge, you are expected to affirm the following statement for each assignment: "I have not given, received, or used any unauthorized assistance." Further information about Academic Integrity is available at CSU’s Practicing Academic Integrity. POLICY ON DUE DATES It is your responsibility to turn in each assignment on the required date. No credit will be given for late problem sets. Problems sets are due at the assigned times on the assigned dates. Make up exams (or other assignments) will be given only for scheduled university functions or strenuous circumstances such as serious illness. The instructor reserves the sole right to determine what grounds constitutes a reasonable excuse for missing or submitting a late work assignment, the right to require the student to submit proper written verification of such excuse. EXPECTATIONS OF INSTRUCTOR As a student enrolled in this course, one of your responsibilities is to submit course work by the due dates listed in the Schedule. With that said, I take my role as your instructor very seriously, and, in fact, I care about how well you do in this course and that you have a satisfying, rewarding experience. To that end, it is my commitment to you to respond individually to the work you submit in this class and to return your work in a timely manner. If, however, due to unforeseeable circumstances, the grading of your work takes longer than expected, I will keep you informed of my progress and make every effort to return your work with feedback as soon as I can. I will also typically respond to your email within 24 hours (likely much sooner). If you do not receive a response in that time frame however, you should assume that I did not receive your message and you should resend it. 6 ECON 335: Introduction to Econometrics TOTAL COURSE TIME ESTIMATES In addition to reviewing slides/notes/lectures, students should expect to spend approximately six hours per week engaging in activities including reading the book, reviewing class notes, completing problem sets (including learning the software program), and studying for exams to be successful. The six hour expectation for homework and other work on top of instructional time is equivalent to the federal credit hour definition of two hours of outside work for each contact hour (here for a three credit course). Course Withdrawal Policy: Any student who wishes to withdraw from the course must submit a request directly to Division of Continuing Education (OnlinePlus). For complete information, please visit their website at http://www.learn.colostate.edu/help/creditstudents/registration/drop‐policy.dot RESOURCES FOR DISABLED STUDENTS Students 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 also should contact Resources for Disabled Students at (970) 491‐
6385 or go to http://rds.colostate.edu. Documentation of disability is required and the RDS office will assist in this process. TECHNICAL HELP RamCT technical support  http://help.ramct.colostate.edu/student‐resources.aspx  (970) 491‐7276 ADDITIONAL SUPPORT SERVICES A variety of instructional support services, such as writing center, guidance on personal or educational issues, tutoring questions and library resources are available to the students. For more information about their services, visit their websites linked under “additional resources” on RamCT. 7