Description: Linear predictor as approximation to conditional expectation function. Least- squares projection as sample counterpart. Splines. Omitted variable bias and panel data. Bayesian inference for parameters defined by moment conditions. Finite sample frequentist inference for the normal linear model. Statistical decision theory and dominating least squares with many predictor variables; applications to estimating fixed effects (teacher effects, place effects) using panel data. Asymptotic inference in the generalized method of moments framework. Likelihood...
Description: Topics include conditional expectations and its linear approximation; best linear predictors; omitted variable bias; panel data methods and the role of unobserved heterogeneity; instrumental variables and the role of randomization; various approaches to inference on causal relations.
Course Notes: Only one course can count towards EC credit; either Economics 1123 or Economics 1126. Both courses can count towards college credit regardless of the order they are taken. Students who fulfill the econometrics...
