Econometrics for Policy-Makers

3 Credits · Level: Graduate, Juris Doctor

Econometrics is typically defined as the application of mathematical and statistical tools to economic data. This course is geared toward practitioners and policymakers who need to develop analytical skills and empirical tools in policy analysis and design. The skills developed in this course will allow students and professionals in international relations, international business, and international development to engage in empirical analysis, understand the analytical process that underpins policy formulation and become critical consumers of policy research. The course requires basic familiarity with descriptive statistics, probability theory, random variables and probability distributions and inference statistics both in a univariate and multivariate setting. The course has a practical, rather than a theoretical, orientation and consists of a series of sessions featuring specific econometric approaches, policy applications, and hands-on exercises. A large part of the course will focus on the analysis of cross-sectional data, though the latter part of the course will introduce the students to panel data (or longitudinal data) as well as time series data. The course will require extensive use of Stata, though no prior familiarity is required.