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{\LARGE \bf BOSTON\ COLLEGE}

{\bf Department of Economics} 
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\noindent EC\ 228 02:\ {\bf Econometric Methods}, Fall 2010 \\ 
Course homepage: {\tt http://fmwww.bc.edu/EC-C/F2010/228/} \\
Prof.\ Christopher Baum (
{\tt http://ideas.repec.org/e/pba1.html}) \\
LCOB\ 486,  email {\tt baum@bc.edu} (7x24)\\
Office Hours:   M, W 1:00--2:45 PM\ and by appt.\\
%Lectures held in ?? ???\\
Tutors: Ms.\ Shannon Phillips, Mr.\ Xiaoping Chen\\
Grader: Ms.\ Sylvia Hristakeva

\bigskip This course is designed to introduce students to {\it econometrics}: the
field of economics which develops the methods by which statistical tools are
employed in empirical research. We will focus on estimation and inference in
the context of the most widely used methodology, linear regression analysis
of a single equation. Students completing the course will gain an
understanding of the analytical foundations of econometric analysis as well
as acquiring significant hands-on experience with data analysis and the
economic interpretation of empirical findings.

EC\ 228 is {\bf required} for Economics majors in the class of 2013 and subsequent classes, and highly recommended for majors in the classes of 2011--2012. At least one semester of calculus is a required prerequisite (as it is for EC\ 201 and EC\ 202, the intermediate theory courses). An understanding of partial derivatives is valuable. EC\  228 is the first course of a two-course sequence in econometrics offered at Boston College. The second course, EC\ 327, Financial Econometrics, is offered only in the spring semester. 

This fall's offerings of EC\ 228 by Prof.\ Baum (section 02), Prof.\ Chalak (section 01) and Prof.\ Hoderlein (section 03) include an optional 4$^{th}$-hour tutorial section. The one-hour tutorial will be presented three times weekly by each tutor (times and rooms on the website). We will ask you to sign up for one of those times so that we might roughly balance the number of students in each section. You are free to attend any of the tutorial sections. The tutorial sections will help you gain familiarity with {\it Stata}, the statistical package employed in the course, and provide assistance with homework problems.

\medskip
\noindent\textbf{Required text/software: } J.M.\ Wooldridge (W), {\it Introductory Econometrics: A Modern Approach}, (South-Western College Publishing, 4th ed. 2009) and access to the {\it Stata} statistical package, version 10.x or 11.x. Stata is available to all BC community members on {\tt http://apps.bc.edu}; it may also be used  in the O'Neill Library CTRC. Personal copies may also be purchased:  see below regarding GradPlan options.

\medskip
\noindent\textbf{Recommended text: } C.F.\ Baum, {\it An Introduction to Modern Econometrics Using Stata}, Stata Press ({\tt http://stata-press.com/books/imeus.html}), 2006.\footnote{Check the Stata Press price if you're thinking of buying from Amazon or the BC\ Bookstore.} On reserve at O'Neill Library.

\medskip
\noindent\textbf{Expected background:}

(a) Completion of EC 151, Economic Statistics, or equivalent (b) familiarity with
the materials in W\ Appendices A, B, which will not be covered. Appendix C\ will be briefly reviewed in lecture.

%Calculus will be employed, if sparingly. One semester of calculus (e.g., MT100) is prerequisite to this course. An understanding of partial derivatives is valuable.

\medskip
\noindent\textbf{Course requirements:}

35\% final examination; 30\% midterm examination; 35\% graded homework
assignments. No makeup examinations will be given. Homework assignments,
which will involve both analytical exercises and computer work, are to be
your own work and will not be accepted after their due dates. You are
responsible for familiarity with the College of Arts \& Sciences' policy on
academic integrity:
\begin{verbatim}
http://www.bc.edu/offices/stserv/academic/resources/policy/#integrity
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You are expected to attend each lecture, having
adequately prepared the material to be discussed. Please help us keep to the
schedule by arriving and getting settled before the lecture is scheduled to
commence.


\medskip
\noindent\textbf{Software:}
The homework assignments will require you to become familiar with {\it Stata}, a
general-purpose statistical package in wide use across social science
disciplines. A short tutorial on the use of Stata will be provided in class by Ms.\ Phillips. Stata has the same ``look and feel'' on all platforms on which it runs:
Mac OS\ X, Windows, Linux, and Unix. There are extensive web-based
tutorials on the use of Stata for regression analysis accessible via the
course home page. There is also extensive on-line help within the program,
and links from Stata's ``findit'' command to Internet-accessible resources
as well. You may submit any questions on Stata use to me via email, which I
read and answer seven days a week. 

You may access Stata, on or off campus, from your own computer using the BC\ Applications Server ({\tt http://apps.bc.edu}). Off-campus use may require the use of VPN\ on your machine (see the Help Center). An adequate number of copies of Stata for both Windows and Mac OS X\ platforms have been installed in the CTRC\ in O'Neill. If you would like to acquire a copy of Small Stata (the student version) for Windows, Mac OS\ X or Linux for your own use, you may order it through the Stata GradPlan ({\tt http://www.stata.com/order/new/edu/gradplans/gp-campus.html}). \\ Materials ordered by phone or fax through the GradPlan are ready for pickup in 1--2 business days from Mrs.\ Tubman in the Economics office, LCOB\ 412B. 

The student version, Small Stata, is limited in the number of observations and variables which may be analyzed, but otherwise is a full version of Stata. Stata/IC\ is more appropriate if you are thinking of using the software for a senior thesis project. You will need access to the Internet to work with the datasets that will be analyzed
in homework assignments. %\bigskip 
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\begin{tabular}{lll}
&   {\large \textbf{Tentative Schedule}} \\ 
\hline
{\small Meetings} & {\small Dates} & {\small Material} \\ 
\hline
{\small 1} &	{\small S 8} & {Stata tutorial (Ms.\ Phillips)}\\ \\
\multicolumn{3}{l}{{\bf No lecture Monday 13 September}}\\ \\
{\small 2} & {\small S 15} & {\small Ch.\ 1:\ Nature of
Econometrics} \\ \\
{\small 3, 4} & {\small S 20, 22} & {\small App.\ C, Mathematical statistics} \\ \\
{\small 5, 6, 7} & {\small S 27, 29, O 4} & {\small Ch.\ 2: Simple
regression model} \\ \\
{\small 8, 9, 10} & {\small O 6, 13, 18} & {\small Ch.\ 3: Multiple
regression analysis: Estimation} \\ \\
{\small 11, 12} & {\small O 20, 25} & {\small Ch.\ 4: Multiple regression
analysis: Inference} \\ \\
{\small 13} & {\small O 27} & {\small Ch.\ 6:\ Multiple regression analysis:
Further issues} \\ \\
{\small 14, 15} & {\small N 1, 3} & {\small Ch.\ 7.1--7.4:\ Dummy variables}
\\ \\
{\small 16} & {\small N 8} & {\small \bf Midterm exam, Chapters 1--4, 6--7} \\ \\
{\small 17, 18} & {\small  N 10, 15} & {\small Ch.\ 8.1--8.4:\
Heteroskedasticity} \\ \\
{\small 19} & {\small N 17} & {\small Ch.\ 9.1-9.2, 9.4-9.5:\ Specification and
data problems} \\ \\
{\small 20, 21, 22} & {\small N 22, 29, D 1} & {\small Ch.\ 10, 12.1--12.5: Regression with time series data} \\ \\
{\small 23, 24} & {\small  D 6, 8} & {\small Ch.\ 15.1--15.7: Instrumental
variables, 2SLS} \\ \\
%{\small 26} & {\small D 6} & {\small Ch. 16.1--16.5: Simultaneous equations models} \\ \\
& {\small Tue D 21, 9:00 AM} & {\small \bf Final exam}\\
\hline
\end{tabular}

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