Economics 310 Menzie D. Chinn Fall 2004 Social Sciences 7418 University of Wisconsin-Madison Economic Statistics: Measurement in Economics (rev’d) 1. INTRODUCTION Economics 310 is a course in probability and statistics with applications to economic and business problems. Much of applied economics is empirical in nature; hence, the understanding and application of statistical reasoning is key. We will also devote some time to regression analysis, the primary means by which economists measure the strength of economic relationships (e.g., price elasticities, the marginal propensity to consume, etc.) 2. OFFICE HOURS Instructor: M 4:00-6:00 (subject to revision) Social Sciences 7418 Phone: 262-7397 e-mail: [email protected] Updated information can be found on the course website, http://www.ssc.wisc.edu/~mchinn/web310_s04.html 3. SCHEDULE AND READINGS The textbook is McClave, Benson and Sincich, Statistics for Business and Economics 8th Edition (Prentice-Hall, 2001) available at the University Bookstore. There is a suggested text (Boudreau, Student’s Solutions Manual) that contains answers to selected problems in the textbook. Additional readings from the WWW will be assigned during the semester. LECTURES DATES TEXTBOOK TOPICS 1 1/21 1 Introduction 2 1/26 2 Describing data 3-5 1/28-2/4 3 Probability 6-8 2/9-16 4 Discrete random variables 9-11 2/18-25 5 Continuous random variables 13 3/3 (Wednesday) MIDTERM I 12-15 3/1-10 6 Sampling distributionsLECTURES DATES TEXTBOOK TOPICS 16-17 3/22-24 7 Estimation w/confidence intervals 18-19 3/29-31 8 Hypothesis testing 20 4/5 (Monday) MIDTERM II 21-22 4/7-12 9 Inferences based on two samples 23-26 4/14-4/26 10 Linear regression 27-29 4/28-5/5 11 Multiple regression 5/10 (Monday) 7:45AM FINAL EXAM (REVISED TIME) 4. GRADING Letter grading is determined as follows: 20% Five problem sets 40% Two midterm exams (20% each) 40% Final exam There will be no make-up midterm exams. Missed midterm exams will increase accordingly the weight assigned to the comprehensive section of the final exam, as long as the exam is missed due to illness, supported by documentation such as a doctor’s note, or other unavoidable events. The final exam must be taken. The problem sets are an integral part of the course. Assignments will be handed into me in lecture on the appropriate date. Late assignments will not be accepted for credit. Although the problem sets do not constitute a large portion of the grade, I strongly encourage you to do the assignments in a timely and serious fashion. The problem sets provide valuable information regarding your grasp of the concepts. 5. ECONOMICS DEPARTMENT GRIEVANCE PROCEDURE. The Department of Economics has developed a grievance procedure through which you may register comments or complaints about a course, instructor, or a teaching assistant. The Department also uses course evaluations. If you wish to make anonymous complaints to an instructor or teaching assistant, the appropriate vehicle is the course evaluation. If you have a disagreement with an instructor or a teaching assistant, we strongly encourage you to resolve the dispute with him or her. The grievance procedure is for situations where neither the course evaluation nor direct contact is appropriate. To file a grievance, you should go to Social Science 7238 and request a Course Comment Sheet. On it you must provide a detailed statement about what you find unsatisfactory. You must also sign the sheet, provide your student ID number, an address and phone number. The Department investigates grievances fully and will respond in writing. Your name, address, phone number and student ID will not be provided to the instructor of teaching assistant and will be treated confidentially. The Department uses this information in case the Department Chair or a nominee wishes to meet with the student to gather additional information. The written response is mailed to the address provided by the student.
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