《计量经济学导论ch01习题答案》由会员分享，可在线阅读，更多相关《计量经济学导论ch01习题答案（4页珍藏版）》请在金锄头文库上搜索。
1、 This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. This may not be resold, copied, or distributed without the prior consent of the publisher. 1 CHAPTER 1 TEACHING NOTES You have substantial latitude about what to emphasize in Chapter
2、 1. I find it useful to talk about the economics of crime example (Example 1.1) and the wage example (Example 1.2) so that students see, at the outset, that econometrics is linked to economic reasoning, even if the economics is not complicated theory. I like to familiarize students with the importan
3、t data structures that empirical economists use, focusing primarily on cross-sectional and time series data sets, as these are what I cover in a first-semester course. It is probably a good idea to mention the growing importance of data sets that have both a cross-sectional and time dimension. I spe
4、nd almost an entire lecture talking about the problems inherent in drawing causal inferences in the social sciences. I do this mostly through the agricultural yield, return to education, and crime examples. These examples also contrast experimental and nonexperimental (observational) data. Students
5、studying business and finance tend to find the term structure of interest rates example more relevant, although the issue there is testing the implication of a simple theory, as opposed to inferring causality. I have found that spending time talking about these examples, in place of a formal review
6、of probability and statistics, is more successful (and more enjoyable for the students and me). This edition is intended for use outside of the U.S. only, with content that may be different from the U.S. Edition. This may not be resold, copied, or distributed without the prior consent of the publish
7、er. 2 SOLUTIONS TO PROBLEMS 1.1 It does not make sense to pose the question in terms of causality. Economists would assume that students choose a mix of studying and working (and other activities, such as attending class, leisure, and sleeping) based on rational behavior, such as maximizing utility
8、subject to the constraint that there are only 168 hours in a week. We can then use statistical methods to measure the association between studying and working, including regression analysis that we cover starting in Chapter 2. But we would not be claiming that one variable “causes” the other. They a
9、re both choice variables of the student. 1.2 (i) Ideally, we could randomly assign students to classes of different sizes. That is, each student is assigned a different class size without regard to any student characteristics such as ability and family background. For reasons we will see in Chapter
10、2, we would like substantial variation in class sizes (subject, of course, to ethical considerations and resource constraints). (ii) A negative correlation means that larger class size is associated with lower performance. We might find a negative correlation because larger class size actually hurts
11、 performance. However, with observational data, there are other reasons we might find a negative relationship. For example, children from more affluent families might be more likely to attend schools with smaller class sizes, and affluent children generally score better on standardized tests. Anothe
12、r possibility is that, within a school, a principal might assign the better students to smaller classes. Or, some parents might insist their children are in the smaller classes, and these same parents tend to be more involved in their childrens education. (iii) Given the potential for confounding fa
13、ctors some of which are listed in (ii) finding a negative correlation would not be strong evidence that smaller class sizes actually lead to better performance. Some way of controlling for the confounding factors is needed, and this is the subject of multiple regression analysis. 1.3 (i) Here is one
14、 way to pose the question: If two firms, say A and B, are identical in all respects except that firm A supplies job training one hour per worker more than firm B, by how much would firm As output differ from firm Bs? (ii) Firms are likely to choose job training depending on the characteristics of wo
15、rkers. Some observed characteristics are years of schooling, years in the workforce, and experience in a particular job. Firms might even discriminate based on age, gender, or race. Perhaps firms choose to offer training to more or less able workers, where “ability” might be difficult to quantify bu
16、t where a manager has some idea about the relative abilities of different employees. Moreover, different kinds of workers might be attracted to firms that offer more job training on average, and this might not be evident to employers. (iii) The amount of capital and technology available to workers would also affect output. So, two firms with exactly the same kinds of employees would generally have different outputs if they use different amounts of capital or technology. The quality
