TAIPEI TECH - AUIA Summer Program
Taiwan Campus -Course Outline
ECON 300 Econometrics
SYLLABUS
Instructor: Byung-Joo Lee, Visiting Professor of Economics
Home Institution: University of Notre Dame, Notre Dame, IN 46556 U.S.A.
Contact: bjleend@gmail.com
Office Hours: TBA
Course Description:
The purpose of this course is to help students learn how to use statistical and
econometric methods in empirical economic applications. This course is oriented
towards the practical applications of economic theory with econometric methods
rather than the theoretical development of these subjects. This course emphasizes to
analyze economic problems usingstatistical and econometric methods.
This course intends to train economics major (or other) students to be more
analytically oriented.
This will enhance their job market skills and/or provide better preparation for the
graduate school to become professional economists.
Textbook:
1. Introductory Econometrics: A Modern Approach by Jeffrey M. Wooldridge, 5th
Edition,2013, South-Western Publishing. (4th edition is also acceptable).
2. Lecture slides will be posted in the Box.com.
Prerequisite:
1. Statistics for Economics, or equivalent
2. Statistics Basics posted in the Box.com
Attendance:
This course is comprised of 4 sessions of 110 minutes per week for 5 weeks for total
of 40 class hours. Students should attend class regularly, arrive on time and not leave
early. While you are in class, show the proper respect to your instructor and to your
classmates. When you must miss a class, it is your responsibility to get the class
material from me or your classmates. Class attendance will be checked regularly. In
the event of extended absence, students should report to instructor and/or academic
dean for approval. Excessive absence may result in the course grade of "F".
Grading:
There will be one midterm exam and one final exam, 30% each. Exams test basic
econometric theory and empirical applications. Project paper accounts for 30%, and
homework for the remaining 10% for the course grade.
Group Research Project Paper: Guideline
1. The paper should be a brief presentation of related econometric technique and
critical discussion of meaningful economic application. The paper should be brief but
as complete as possible. It should be less than 10 pages (double spaced).
2. Research topic can be either microeconomics or macroeconomics related issues.
For microeconomics, labor related issues such as wage analysis, firm related issues,
etc. For macroeconomics, unemployment, inflation, or exchange rates related issues
are good choices. Select regionally relevant issues on East Asia or Taiwan.
3. You must choose the data set used in your research. The data source should be
readily available and describe the data briefly in your paper. You may obtain this data
either directly from the source or from the published paper.
4. You must perform and report an appropriate statistical analysis designed to
estimate the parameters of the economic model. Also, discuss briefly any problems or
complications in your analysis. Give your suggestions what, if any, might be done to
cope with the problems.
5. Your paper is due before Session 18. Depending on the class size, all or some select
projects are asked (or voluntarily) to present the paper in the class. Each paper will be
given about 15-20 minutes to present your paper.
Academic Honor Code:
The Code of Honor will be strictly applied. Honor Code pledges "I will not participate
in or tolerate academic dishonesty." Students will not give or receive aid on exams.
This includes, but is not limited to, viewing the exams of others, sharing answers with
others, and using books or notes while taking the exam. You can collaborate to study
your homework, but you have to submit your own completed homework to receive
appropriate credit. Copying solutions from others, whether they are current or past,
constitutes plagiarism.
Computer Program:
There are several good statistical software available for econometric analysis such as
Stata, SAS, SPSS, and Eviews. We will use Stata for our class. Stata is omprehensive
statistical and econometrics program, and very easy to learn. Stata is widely used in
academic research area and becomes increasingly popular in business area too. Stata
runs on both Windows and Mac OS. Introduction to Stata is posted in the Box.com.
Students need to purchase your own Stata program and install it to your computer.
Tentative Course Schedule
The course outline is tentative and I will modify accordingly depending on the pace of
the class.
We will cover as many topics as time permits, but I will take time to make sure every
student understand class material well.
Week 1: Econometrics and OLS
Session 1: Chapter 1: The Nature of Econometrics and Economic Data
Session 2: Chapter 2: The Simple Regression Model
Session 3: Introduction to Stata
Session 4: Chapter 3: Multiple Regression Analysis: Estimation
Week 2: Multiple Regression Analysis
Session 5: Chapter 4: Multiple Regression Analysis: Inference
Session 6: Chapter 4: (Continued) Multiple Regression Analysis: Inference
Session 7: Chapter 5: Multiple Regression Analysis: OLS Asymptotics
Session 8: Chapter 6: Multiple Regression Analysis: Further Issues
Week 3: Violation of OLS Regression Assumptions
Session 9: Chapter 7: Multiple Regression Analysis with Qualitative Information
Session 10: Midterm Exam
Session 11: Chapter 8: Heteroskedasticity
Session 12: Chapter 9: More on Specification and Data Problems
Week 4: Regression Analysis with Time Series Data
Session 13: Chapter 10: Basic Regression Analysis with Time Series Data
Session 14: Chapter 11: Further Issues in Using OLS with Time Series Data
Session 15: Chapter 12: Serial Correlation and Heteroskedasticity in Time Series
Regressions
Session 16: Chapter 12: (Continued)
Week 5: Panel Data Regression Analysis
Session 17: Chapter 13: Panel Data Method: Pooling Cross Sections Across Time
Session 18: Project Paper Presentation
Session 19: Project Paper Presentation
Session 20: Final Exam
Professor Byung-Joo Lee earned his economics Master’s and Ph.D. degrees from the
University of Wisconsin-Madison. He also earned economics Master’s degree from
the Pennsylvania State University at State College. He earned his bachelor’s degree
from the Seoul National University, Seoul, South Korea. He is currently teaching at
the University of Notre Dame. He previously taught at the University of
Colorado-Boulder. He was the President and the President-elect of the Korea America
Economic Association (KAEA) in 2011-2012.
His teaching and research area in economics is econometric analysis and international
finance. He has written extensively on theoretical and applied econometrics subjects.
Among his contributions are Econometrica (1992), Economics Letters (1994), Journal
of Quantitative Economics (1994), and Oxford Bulletin of Economics and Statistics,
2000). Recently, his research focuses on the international finance. His recent
publications are in The Journal of Korean Economy (2003), Journal of International
Finance (2010), Pacific Economic Review (2011), Review of International Economics
(2011), and International Review of Economics and Finance (2012).