MN434 Half Unit
Empirical Strategy for Managerial Economics
This information is for the 2013/14 session.
Teacher responsible
Dr Yona Rubinstein NAB5.31
Availability
This course is available on the MSc in International Management and MSc in Management and Strategy. This course is available with permission as an outside option to students on other programmes where regulations permit.
Course content
This course addresses the link between a research question, the nature of the available data, the appropriate statistical and econometric methods and the interpretation of the empirical findings. Using datasets from current research in managerial economics, the course will explain how conceptual ideas are transformed into an empirical research project, and how this project is then implemented. Topics will include: 1. The statistical modelling of research questions; (formulation, reduced forms and structural parameters of interest) 2. Identification in controlled experiments; 3. Identification strategies in observational data: a. cross section: instrumental variables, regression discontinuity design; b. panel data: fixed and random effects models, differences-in-differences c. sample selection: structural models and non-parametric approach
Teaching
20 hours of lectures in the LT.
Formative coursework
One formative essay (review of an empirical paper, 1000 words), one problem set, mock exam.
Indicative reading
Books:
Angrist Joshua D.and Pischke Jörn-Steffen. Mostly Harmless Econometrics: An Empiricist's Companion, Princeton University Press, 2008.
Wooldridge, Jeffrey. Introductory econometrics, South Western College, 5th edn. 2012
Papers:
Angrist Joshua D. and Krueger Alan B. (2001). Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments," Journal of Economic Perspectives 15, 2001, pp. 69-85
Angrist Joshua D. and Pischke Jörn-Steffen (2010). "The Credibility Revolution in Empirical Economics," Journal of Economic Perspectives 24, pp. 3-30.
Falk, Armin and James J. Heckman (2009). "Lab Experiments Are a Major Source of Knowledge in the Social Sciences", Science, 326, 23 October, pp. 535-538.
Heckman James J. (2001). "Micro Data, Heterogeneity, and the Evaluation of Public Policy: Nobel Lecture", Journal of Political Economy, vol. (109) pp. 673-748.
Rosenzweig Mark R. and Wolpin Kenneth I. (2000). "Natural Experiments in Economics", Journal of Economic Literature, Vol. 38, No. 4., pp. 827-874
Assessment
Exam (60%, duration: 2 hours) in the main exam period.
Essay (40%, 1000 words).
Key facts
Department: Managerial Economics and Strategy Group
Total students 2012/13: 15
Average class size 2012/13: 15
Value: Half Unit
