Master
2022/2023
Models With Qualitative Dependent Variables
Category 'Best Course for Career Development'
Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Category 'Best Course for New Knowledge and Skills'
Type:
Elective course (Economics and Economic Policy)
Area of studies:
Economics
Delivered by:
Department of Applied Economics
Where:
Faculty of Economic Sciences
When:
1 year, 4 module
Mode of studies:
offline
Open to:
students of one campus
Instructors:
Maria Sheluntcova
Master’s programme:
Economics and Economic policy
Language:
English
ECTS credits:
3
Contact hours:
40
Course Syllabus
Abstract
This course is devoted to binary choice models that are central in applied econometrics. We deal with the situation when the potential outcomes are discrete, i.e. the presence or absence of some quality of the object in question. It might also be the decision of an individual to perform or not to perform any action. The scope of application of these models is very wide. Classical examples are the problems of forecasting companies' defaults, employment equations, modeling the level of education, and many other problems of identifying the determinants of a certain choice and predicting its probability. In addition, we consider models with truncated dependent variable. The course includes Tobin and Heckman models that enables us to deal with truncated samples and selection bias. The course is applied in nature. Analysis of course’s topics is based on numerical examples. At the seminars, students use statistical software, i.e. STATA.
Learning Objectives
- The main goal of the course is to explore methods of analyzing microeconomic data.
Course Contents
- Binary choice models
- Multinomial models
- Ordered choice models
- Multivariate probit model
- Truncation and censoring
