ECON 453: Advanced Introduction to Statistics and Econometrics I
Fall 2014
Instructor:
Linchun Chen
Lectures:
Office hours:
Email: linchunc@umich.edu
Mon/Wed
1:00-2:30PM
Monday
2:40-3:40PM
Wednesday
10:30-11:30AM
Graduate Student Instructor:
Traviss Cassidy
Email: tmcassid@umich.edu
Discussion:
Friday
1:00-2:00PM
Friday
2:00-3:00PM
Office hours:
Tuesday
3:00-4:30PM
Important dates:
First day of class:
Last day of class:
Midterm:
Final exam:
in 110 David M Dennison Building
in 300 Lorch Hall
in 300 Lorch Hall or by appointment
in 3437 Mason Hall
in 3437 Mason Hall
in 116 Lorch Hall
Wednesday, September 3.
Wednesday, December 10.
Wednesday, October 22.
Tuesday, December 16.
Overview:
This course is the most advanced undergraduate statistics course in the Department of
Economics. It provides a rigorous introduction to mathematical statistics and serves as the prerequisite for ECON 454 and for ECON 457. Topics include probability theory, sampling
distribution theory, estimation and hypothesis testing, and linear regression. The course aims to
help students to learn theoretical aspects of mathematical statistics and lay the foundations for
more advanced econometrics course. To achieve this goal, it is crucial that you have a sound
understanding of matrix algebra as well as multivariate calculus including restricted and
unrestricted optimization, integration and differentiation. As such, the course will be theoretical
in nature, often requiring rigorous quantitative analysis.
Learning Objectives and Outcomes:
At the end of the semester, you will:
(1) Be familiar with basic concepts in statistics and econometrics.
(2) Have a good understanding of procedures used to draw formal inference from data.
(3) Enhance problem-solving skills in statistics-related settings.
(4) Be able to use MATLAB software to conduct simulations and data analysis.
Pre-requisites:
Vector Calculus (MATH 215, 255, or 285) and Linear Algebra (MATH 217). A good
knowledge of multivariate calculus is essential for a successful completion of this course.
Students without these pre-requisites are advised to enroll in Economics 451 instead.
Required textbook:
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Casella, G., and R.L. Berger (2002), Statistical Inference, 2nd ed., Pacific Grove, CA: Duxbury.
Coursepack:
Includes lecture notes and MATLAB instructions. Available at Dollar Bill (on Church Street)
and on CTools. Please bring your copy to class.
Course Website: CTools (http://ctools.umich.edu)
Lecture notes, problem sets, practice exams, and readings will be posted on our course website.
Further Background Readings:
Stone, Charles J. (1995), A Course in Probability and Statistics, 1st ed., Cengage Learning.
Mittelhammer, Ron C. (2013), Mathematical Statistics for Economics and Business, 2nd ed.,
Springer.
Homework Assignment:
You have weekly homework assignment, and the lowest homework assignment
grade is dropped in calculating your final grade. Assignments are due by the end of class (or
under my office door by the same time) on the due date. There will be no extensions for
homework assignments. Some assignments involve use of MATLAB (a matrix algebra
software). You are encouraged to work in groups of up to three students, but must be written
up and handed in individually. Please indicate the other group members, as applicable.
Problem sets will be graded on a scale of √+, √, √-, and Fail. Make sure to include all MATLAB
codes for the assignment involving MATLAB. All students have virtual access to MATLAB
from any Macintosh or Windows computer with an Internet connection. Alternatively, you may
access MATLAB from one of the university computing centers.
Discussion Sessions:
The solutions to the homework assignments will be discussed during the problem sessions during
discussion sessions:
(1) Your GSI will cover some of the material not presented in class.
(2) You will be solving problem sets that are closely related to the contents of your midterm/final
exam.
(3) You can ask questions related to the problem sets.
Additional problems can be found at the end of every chapter of the required textbook.
Exam and Grading Policy:
The midterm and final exams must be taken on the scheduled dates.
Midterm:
Final:
1:10PM sharp until 2:30PM, Wednesday, October 22, 2014 in 110 DENN
4:00PM sharp until 6:00PM, Tuesday, December 16, 2014 in 110 DENN
No textbooks/lecture notes/electronic devices/calculators are allowed during midterm/final
exams. However, you may use a hand-written one page single-sided letter size “cheat-sheet”
for your midterm exams; for your final exam, you may use a hand-written one page double-sided
letter size “cheat-sheet”.
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Students who believe that their exams have been misgraded must appeal with a written statement
of what is wrong with the grading by contacting your GSI. Your GSI will regrade the whole
exam, and the grade could rise, stay the same, or fall, as a result of regrading. The written
statement must be paper-clipped to the exam in question with your name and UMID# written on
the appeal. You have ten days to submit the regrade request for midterm and thirty days for
final exam after the evaluated examination is returned to the class.
Your final grade will be based on one midterm exam, one final exam, and regular homework
assignments. The actual formula according to which you grade is determined is:
Max{20% of Homework+40% of Midterm+45% of Final, 20% of homework+80% of Final}
If you can not perform assignments at these times, you are strongly advised not to elect this
course.
Policies
This course also adheres to the default policies of the Department of Economics. These related
to Academic Integrity, Graded Assignments, and Religious Holidays. The policies are posted at:
http://www.lsa.umich.edu/econ/undergraduatestudy/policiesandprocedures
Academic integrity is taken very seriously; so do read the Policy on Academic Integrity.
Excused absences from examinations are very difficult to obtain; so do read the Policy on
Graded Assignments.
Accommodations for Students with Disabilities
If you think you need an accommodation for a disability, please let me know at your earliest
convenience. Some aspects of this course, the assignments, the in-class activities, and the way
the course is usually taught may be modified to facilitate your participation and progress. As
soon as you make me aware of your needs, we can work with the Services for Students with
Disabilities (SSD) office to help us determine appropriate academic accommodations. SSD (734763-3000; http://ssd.umich.edu) typically recommends accommodations through a Verified
Individualized Services and Accommodations (VISA) form. Any information you provide is
private and confidential and will be treated as such.
Copyright:
Contact information for requests for permission to reproduce or distribute materials available
through this course is: Linchun Chen [linchunc@umich.edu]
In all emails addressed to us, please include “ECON 453” in your subject line.
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