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LOYOLA SCHOOLS
COURSE SYLLABUS
A. Course Description:
A study of the behavior of observed variables using quantitative analyses of actual economic
phenomena. Topics include single equation estimation procedures, the Generalized Least
Squares method, serial correlation, stochastic regressors and lagged regressors, and estimation of
simultaneous systems of equations.
Pre-requisites: EC 116
B. Learning Outcomes:
1. Content
2. Skills
a. Develop econometric models using simple or multiple regression
equations,
b. Use different methods to derive the estimators of the parameters of the linear
regression model
c. Develop more advanced models that incorporate different functional forms,
dummy independent variables, and dummy dependent variables
d. Demonstrate working knowledge of a statistical software and use it to address
empirical questions
e. Use appropriate econometric techniques to analyze economic and social issues
3.Attitudes
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C. Course Outline: (based on Wooldridge)
6. Heteroskedasticity (Chapter 8)
9. Further Issues in using OLS with Time Series Data (Chapter 11)
10. Serial Correlation and Heteroskedasticity in Time Series Regressions (Chapter 12)
Note: Given that this is just a one-semester course, the selection of topics is quite traditional. The
main parts of the course are (1) Cross-Section Data and (2) Basic Time Series. If time permits, we
can also cover basic panel data econometrics or simultaneous equations models.
E. Suggested Reading:
F. Course Requirements:
Midterm Exam
Final Exam
Group Empirical Paper
Class Participation
The Group Empirical Paper allows students to investigate an economic topic of their choice.
They must first research the theory related to their topic in order to formulate an appropriate
hypothesis or set of hypotheses. Then, guided by the literature, the students formulate their empirical
model and use real world economic data to estimate important parameters. Finally, students are
expected to be able to interpret the econometric results, not only in terms of statistical significance but
also in terms of economic significance.
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Weights and links with expected learning outcomes are given below:
1.a 1.b 1.c 1.d 2.a 2.b 2.c 2.d 2.e 3.a
Midterm 30% Y Y Y Y
Final 30% Y Y Y Y
Paper 30% Y Y Y Y Y Y
Class P 10% Y Y Y Y
G. GRADING SYSTEM
A 92-100
B+ 87-91
B 83-86
C+ 79-82
C 75-78
D 70-74
F below 70
H. CLASSROOM POLICIES
For an orderly class and fostering harmonious student-teacher relationship, the following shall be
observed:
(2) Attendance will be checked regularly. The number of absences allowed by the university shall
apply.
(3) There are no extra credit projects. Bonus points (if any) for participation in certain special
academic events (such as economics quiz bee) are subject to the discretion of the instructor.
(4) Powerpoints of the lectures may or may not be disseminated to the students. This is to encourage
students to pay attention and apply diligence in taking down notes.
(5) Mobile phones and other gadgets cannot be used as calculators during exams. Mobile phones and
other gadgets must be put away during exams and their use during exams is strictly forbidden. The
use of calculators during exams is subject to the discretion of the instructor and does not include
graphing or other special types of calculators.
(6) Students are not allowed to ask questions, make comments to the teacher or designated proctor, or
cause any commotion during an exam. If there are errors in said exams that are not detected prior to
the exam, student grades will be duly adjusted for such errors after said exams have been checked.
(7) Wearing of any form of headgear and sunglasses during exams are not allowed.
(8) No one may leave the classroom during an exam. Make sure you visit the restroom prior to sitting
down to take the exam. If you are not feeling well and think that you might have to go to the restroom
often, do not take the exam. Instead, obtain official permission from the Office of the Associate Dean
for Academic Affairs to be granted temporary deferment of said exam.
(9) All tests must be taken during the scheduled session. Participation in out-of-town or international
events is not an acceptable reason for not taking the test on the scheduled session unless such
participation is mandated by the university. Other reasons such as having a scheduled flight on the
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day of the exam are also not valid. Lateness during an exam day may also be penalized through
points deducted from the exam score.
(10) Make-up tests are given only under serious enough reasons judged by the instructor. In case of
make-up exams, the instructor may still apply necessary penalties on the exam grade.
(11) Unruly behavior during class, including habitual lateness and frequently leaving the classroom
during class, can be reflected in the class participation grade. The instructor may ask an unruly
student to leave the classroom if said student does not stop such disruptive behavior.
(12) Tests are to be kept on file with the instructor after the results have been discussed and test
papers shown to the students. Students may not photograph or photocopy the exams. However,
students are welcome to see them during the semester by requesting the instructor.
(13) Due to climate change and other unforeseen events that can result in the possible high frequency
of class cancellations during the course of the semester, students may be asked to study the missed
topics on their own. The need for scheduling make-up classes due to the reasons mentioned above is
under the discretion of the instructor, but subject to the consent of all students in the class.
I. CONSULTATION HOURS
14:00-15:00 TTh
15:00-17:00 F (or by appointment: ndeguzman@ateneo.edu)