This is a small seminar-workshop for students who are highly motivated to begin research in empirical economics and who have either completed, or are currently enrolled in, ECON 406 or an equivalent econometrics course. Most of you will use this paper in partial fulfillment of the Honors thesis requirement. The course will begin with an overview of time series econometrics and a hands-on demonstration of econometric work to be chosen from a list that includes time-series tests of simple rational expectations-efficient market models of the bond market and stock market; cross-sectional and time-series behavior of inflation and long-term growth; dynamics of inflation, unemployment and output; wage equations and wage differentials. We will then move on to reading and discussion of a few empirical papers that will give you a more detailed picture of the research process, as well as some background in specific areas relevant to the proposed research topics. Finally, you will undertake an original research project and write a journal-style article in macroeconomics or finance on a topic that you select from a list that I will provide. These projects will be carried out in groups of two or three with close supervision from the instructor. The grade will be determined 60% by your contribution to the final paper, 20% by the problem sets, and 20% by class participation, including (but not limited to) the seminar presentation of the paper.
Students interested in enrolling in ECON 495 must submit an application.
For textbook information, please visit the ECON Textbook Information Website. Information will be posted for each class as soon as it is available.