19 Jul DESCRIPTION OF A TYPICAL EMPIRICAL PROJECT
Description of a Typical Empirical Project (at least 1000 words)
Attachments includes four documents, first one is coursework requirement and details, second one is course coverage for reference., third and fourth document is the data for analysis. Please be aware the fourth data only available in Stata software.
Therefore, please send 1000 words coursework to me as requested by Monday night and I also need Stata work document.
More detailed guidelines on how to write an empirical project can be found in a handout I distributed in week 1 (also available on Moodle). What is offered in there is a complete discussion of what an empirical project involves when you may have to undertake one as a student (e.g. for your dissertation) or in your future job. The exercise in this homework is only a mini-project so while it will mimic the structure of a project, it will be shorter.
1. Introduction. Most project reports begin with an introduction that briefly motivates and describes the issue being studied and summarizes the main empirical findings. In sum it identifies the research question you will address in your report. The introduction should be written in simple non-technical language, with statistical jargon kept to a minimum. A reader who is not an expert in the field should be able to read and understand the general issues and findings of the report. [For this exercise, the introduction can be brief-a couple of sentences].
2. Literature Review. This should summarize some related empirical work that others have done in this area. [For this project this section can be fairly brief-using Google Scholar, find several academic papers on the topic you examine in the project and discuss them from a critical angle].
3. (Economic) Theory.If the report is academic in nature and involves a formal theoretical model, then it is often described in this section. For policy reports you may not need to include a formal mathematical model, but this section allows you to describe the economic or institutional issues of your work in more detail. This section can be more technical than the preceding ones, will typically include some mathematics and economics jargon and may refer to literature in the field. In short, you can address this section solely to an audience of experts in your field. You are not required to have this section in your mini-project although its presence would be a bonus.
4. Data. In this section you should introduce your data. Since you have actually been given the data set, you should use this section to show your familiarity with the variables of interest eg. summary statistics, simple graphs of the data, a correlation matrix. Some text providing interpretation of the above should be provided.
5. Motivation for the Econometric Models You Plan on Estimating. In this section you should discuss how you will use the data to investigate your particular economic questions of interest. Which model(s) will you estimate and why? (what is your dependent variable and which are the independent variables?). It builds on the content of the previous 3 sections to identify (with explanation) the model(s) which you will estimate to answer your research question.
6. Empirical Results. This section is typically the heart of any report. At this stage you should describe your empirical findings and discuss how they relate to the economic/business issue(s) under investigation. It should contain both statistical and economic information. By economic information we refer, for example, to coefficient estimates and what these estimates may imply for economic theory. In contrast, statistical information may include: results from
hypothesis tests; a justification for choice of variables in your preferred model; an explanation for deleting insignificant explanatory variables; a discussion of model fitness, diagnostic tests for the preferred regression model (omitted variables, multicollinearity, heteroscedasticity, functional form-should the dependent variable be in level or should we convert it to logarithm form); etc. Typically, this information will be presented in tables and/or graphs. You should describe what results you found and how these results influenced your choice of a regression to run or what estimation method to use. You should tie in your own results with the empirical and theoretical literature where appropriate (that is, compare your results with those of previous studies) [This is the most important part of the MNGT 573 project]. You can also comment on whether some variables that you regard as relevant for the topic under examination are missing from the dataset provided and you would like to add them.
7. Conclusion. This should briefly summarize the issues addressed in the report, specifically its most important empirical findings.
Presentation
The mini-report should be written in Microsoft Word and should include figures and tables reporting the results of the empirical analysis.
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