Empirical Economics II (Empirische Wirtschaftsforschung II)

TU Chemnitz | Sommersemester 2024 Empirical Economics II (Empirische Wirtschaftsforschung II) SoSe 2024

Welcome to the OPAL Learning Environment for the course "Empirical Economics II" in the summer term of 2024!

Empirical economics involves the application and development of methods for the empirical verification of economic theories or hypotheses.

 

IMPORTANT INFORMATION

Time: Monday (weekly) 5:15-6:45 PM

Room: C25.031 (prev.: 2/W031)

Kick-off event: 08.04.2024, 5:15 PM

Tutorial: The next tutorial will take place on the 7th of May.

 

LINKS ETC.

Link to shared Google Docs document (see post of 12.03.):

https://docs.google.com/document/d/1UnJBVpabqzfae-hHe0yEw4mKtFtuYoABq4nOBzxHxQA/edit?usp=sharing

 

POSTS AND UPDATES

 

16.04.2024:

Dear students,

I have uploaded the updated slides for the lecture on panel data (it now includes the solution slides). 

Below, I have summarized the key points I mentioned in Monday's lecture regarding your questions, etc.

When is the effect of an independent variable constant and what is the role of time dummies in that context?

If we do not include interaction terms between the independent variables (such as education) and the time dummies, the model assumes that the effects of these independent variables on fertility are constant across all time periods (independent if we include time dummies or not). Including time fixed effects (year dummies) controls for the overall time trend in fertility. It allows us to capture any systematic differences in fertility across different years. Including interaction terms between education and the time dummies allows us to examine whether the effect of education on fertility varies across different time periods.

Fixed effects vs. random effects: More intuition (donut example, figure on slide 59)

Random effects exploit both "within" and "between" variation. The RE estimate is a weighted average of the within (fixed effects) and between estimates. I have uploaded additional graphical illustrations in the "Notes" folder. (The between estimator is obtained by estimating equation (2) on slide 29 (the "means over time") with OLS.)

 

14.04.2024:

Dear students,

I have uploaded the slides for tomorrow's lecture on panel data.

 

08.04.2024:

Dear students,

I have uploaded the updated Revision Quiz as well as the respective solution file in the folder "Problem Sets". The next lecture on the 15th of April will be about panel data analysis.

Please note that the tutorials will only take place after announcement. There is no tutorial tomorrow. To ensure that you have enough practice, I will include R practice sessions and general exercises in the Monday lectures.

 

12.03.2024:

Dear students,

I have created a "Google Docs" text document. During the R tutorial, I will occasionally post R code in this document that you can copy if a step is too fast for you. This is to ensure that nobody loses track. Of course, you can also address me directly during the exercise if you have any questions. Please note that occasionally some special characters such as "~" may not copy correctly, so you may need to manually enter them again in R. You are authorized to edit the document to add questions about your code, including the corresponding code section if necessary. However, please do not delete my contributions. The complete solution will usually be provided to you as an RScript on OPAL after the lecture/tutorial.

Here is the link to the Google Docs document: https://docs.google.com/document/d/1UnJBVpabqzfae-hHe0yEw4mKtFtuYoABq4nOBzxHxQA/edit?usp=sharing

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Empirical economics involves the application and development of methods for the empirical verification of economic theories or hypotheses.

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