Minor Deepening Minor: Economic Research for Econometricians

Category: Deepening minor
Minor code: FEB53116

Content

The minor aims to broaden as well as deepen the knowledge and understanding of economics for individuals trained in econometrics on several dimensions.

Using microeconomic theory to understand strategic interactions
Looking at recent developments in macroeconomics in both theory and practice
Reviewing popular micro-econometric methods used in empirical papers

A particular emphasis of this minor is the development of economic research skills. The reading material for this minor will thus mostly be based on published academic papers

Learning objectives

The goal of this minor is to introduce students to important macroeconomic and microeconomic problems and theories that modern economic research focuses on. A further key objective is to teach students how they can use empirical methods to systematically think about the relationships between microeconomic and aggregate variables.

Special aspects

This minor is only accessible to ESE students who have a strong econometrics background.

This means that it is open to all bachelor students from one of the econometrics tracks and to those from the economics track who have obtained high grades in statistical and mathematical based courses.

Overview modules

Module 1: Theoretical Microeconomics

ECTS: 4
Content: This module begins with an introduction to/refresher of game theory to lay the methodological foundations. In the rest of the course we consider classical strategic problems of individual interaction such as:
- problems of coordination
- communication and information exchange (cheap talk, persuasion, signalling)
- bargaining
- contests & tournaments
After a general analysis of these strategic situations, we consider and discuss their economic applications and relevance.
Teaching methods: Lectures
Teaching materials: Lecture Slides and Scientific Papers
Contact hours: 6 per week for 1st 4 weeks
Self study: 14 per week for 1st 4 weeks

Module 2: Macroeconomics: Theory and Practice

ECTS: 4
Content: In this module we will study the long run behaviour of economy and its short-run fluctuations.
In the first part (long-run), we will cover economic growth and unemployment.
In the second part (short-run), the focus will be on the consumption, investment and asset prices’ determination.
The models presented in this course are an introduction to modern macroeconomics and build on the 1st year macroeconomics course. We will study the applications of the models using academic papers.
Teaching methods: Lecture
Teaching materials: Lecture Slides and Scientific Papers
Contact hours: 6 per week for 1st 4 weeks
Self study: 14 per week for 1st 4 weeks

Module 3: Applied Micro-Econometrics Methods

ECTS: 4
Content: The module is about micro-econometric empirical strategies used to estimate causal relationships that are of interest to economists. These include:
- Lab & field experiments
- Randomized control trials
- Differencein-differences
- Propensity score matching
- Instrumental variables
- Regression discontinuity
The module will describe the advantages (and disadvantages) of these different empirical strategies to identify the causal effect of a treatment. Students will learn what kind of identifying assumptions different empirical strategies are based on. We will also appraise which data requirements have to be met for the successful application of a particular strategy.
This will be done, for each method in turn, by:
1. reviewing the econometric theory behind the various methods
2. go through empirical papers which have successfully applied these
Teaching methods: Lectures
Teaching materials: Lecture Slides and Scientific Papers
Contact hours: 12 per week for final 3 weeks
Self study: 28 per week for final 3 weeks

Examination

Method of examination
Module 1:           Participation: 10%;                          Course Work: 20%;                          Written Exam: 70%
Module 2:           Participation: 10%;                          Course Work: 20%;                          Written Exam: 70%
Module 3:           Participation: 10%;                          Course Work: 20%;                          Research Paper: 70%

Composition final grade

Module1:            32%
Module 2:           32%
Module 3:           36%

Students need to obtain an average of 5.5 over all modules to pass the minor and cannot get a grade below 4.5 in any of the modules.

Feedback
Feedback on exam or essay by appointment with instructor of module

Frequently asked questions (FAQ)

Contact information

Olivier MARIE
marie@ese.eur.nl
room: H9-20

Category: Deepening minor
Minor code: FEB53116
Organisation: Erasmus School of Economics
Study points (ECTS): 12
Instruction language: English
Location: Campus Woudestein, Rotterdam

Registration

Please read the application procedure for more information.