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EndTerm Task

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8 views

EndTerm Task

end term

Uploaded by

arunasandyzbai122005
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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End-Term Task for Econometrics (15 Points)

Instructor: Assoc. Prof. Alibek Bissembayev


Business School, KBTU
Spring 2025

Objective
For this End-Term Task, students need to demonstrate their understanding
of econometric methods by analyzing a real-world economic issue using a
dataset of their choice. They will apply the concepts and techniques covered
from chapters 8 till 15 from the Wooldridge, J. Introductory Econometrics:
A Modern Approach. 7e. Cengage Learning.2020. The topics such as time
series analysis, panel data methods, two-stage least squares, fixed and ran-
dom effects, and limited dependent variables. The goal is for students to
apply econometric models to solve a practical problem, interpret the results
correctly, and present their findings in a professional manner.

Task Requirements
1. Dataset Selection
ˆ Choose a real-world dataset that is relevant to economics or business.
The dataset should allow for the application of advanced econometric
techniques (e.g., time series, panel data, nonlinear models).

ˆ The dataset can be sourced from online repositories (such as data.gov,


Kaggle, or other academic sources) or from a topic you are interested
in analyzing.

ˆ Example topics might include:

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– Economic Growth: Analyzing the impact of education on GDP
growth using panel data.
– Financial Markets: Forecasting stock prices or bond yields us-
ing time series analysis.
– Labor Economics: Evaluating the effect of minimum wage laws
on unemployment rates using instrumental variables.
– Consumer Behavior: Estimating demand elasticity using lim-
ited dependent variables like Probit/Logit models.

2. Econometric Techniques
Students must apply the following techniques, where appropriate:

ˆ Time Series Analysis: Apply techniques such as ARIMA or GLS to


forecast future values or model serial correlation.

ˆ Panel Data Methods: Use fixed and random effects models to ana-
lyze longitudinal data (e.g., company performance over time).

ˆ Two-Stage Least Squares: If applicable, use this method for ad-


dressing endogeneity issues and instrumental variables.

ˆ Limited Dependent Variable Models: Use models like Probit/Logit


regression if your data involves categorical dependent variables (e.g.,
binary outcomes such as success/failure).

ˆ Model Validation: Perform diagnostics (e.g., heteroscedasticity tests,


autocorrelation tests) and validate your models.

3. Report Structure
Your Presentation and Report must be structured as follows:

1. Introduction: Describe the problem you are analyzing, the research


question, and the econometric model(s) you will use.

2. Literature Review: Briefly review relevant literature that applies


econometric methods to similar issues.

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3. Data Description: Provide a description of the dataset, including
sources, variables used, and any data cleaning or preparation processes.

4. Econometric Methodology: Explain the econometric techniques


used, why they are appropriate for the data, and any assumptions
made.

5. Results and Interpretation: Present the results of your models,


including coefficients, significance levels, and model diagnostics. Inter-
pret the results in the context of the research question.

6. Conclusion: Summarize the findings, policy implications, and any


limitations of the study. Provide suggestions for future research or
improvements to the model.

4. Presentation
ˆ Group Presentation: Prepare a 15–20 minute group presentation
with maximum 12 slides summarizing the key points from your project.
Your presentation should clearly explain:

– The problem and dataset chosen.


– The econometric methods applied.
– Key results and their interpretation.
– Policy recommendations or practical implications of your findings.
– Any challenges encountered in the analysis and how they were
addressed.

ˆ The presentation should be professional, with clear visuals (charts,


graphs, and tables) to support your findings.

Grading Breakdown (Total: 15 Points)


ˆ Dataset and Problem Definition (3 points):

– Appropriateness and relevance of the dataset chosen.


– Clear definition of the research question and its economic signifi-
cance.

3
ˆ Application of Econometric Techniques (5 points):

– Correct and effective application of the econometric methods learned


in Weeks 8–15 (e.g., time series, panel data, two-stage least squares).
– Accurate interpretation of results and appropriate use of diagnos-
tic tests.

ˆ Analysis and Results (4 points):

– Depth and clarity of analysis.


– Correct interpretation of model outputs (coefficients, significance,
etc.).
– Use of diagnostic tests to validate assumptions and models (e.g.,
heteroscedasticity, autocorrelation tests).

ˆ Presentation (3 points):

– Clear and concise presentation of the analysis.


– Use of appropriate visual aids (charts, tables, and graphs).
– Professionalism and engagement during the presentation.

Submission Requirements
ˆ Report: Submit a written report (7–10 pages) detailing the project.

ˆ Presentation: Submit the presentation slides (10–12 slides) (Power-


Point or PDF format).

ˆ Deadline: The final report and presentation must be submitted by


the specified due date in Week 14.

Important Notes
ˆ Collaboration: This task is to be done in groups (typically 3–4 stu-
dents per group). Collaboration and teamwork are critical.

4
ˆ Academic Integrity: Ensure all sources are properly cited, and any
use of external datasets is acknowledged. Plagiarism will result in a
failing grade for the project.

ˆ Statistical Software: Use Stata for the analysis. Make sure all code
is clean and reproducible.

Conclusion
This End-Term Task is designed to showcase your ability to apply econo-
metric techniques in a real-world context, demonstrate your understanding
of model interpretation, and communicate your findings in a clear and pro-
fessional manner. Good luck!

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