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Questions and Answers
What is the implied research question from the news anchor's story?
What is the effect of going to the hospital on full recovery from an illness?
Do you agree with the news anchor's conclusion?
No, because the sample of people who go to the hospital is different from the sample that does not.
What are the components of the regression model you would use to analyze the hospital question?
The components would include the dependent variable (outcome), independent variables (factors affecting recovery), and possibly control variables.
What topics are covered in today's lesson?
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The linear regression model assumes that the relationship between Y and X is ____.
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Attendance is required for the in-person sections of the course.
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Study Notes
Intro to Applied Econometrics
- Course taught by Nicolas Polasek and Leila Njee Bugha
- In-person lectures with notes and slides posted online before class
- Solutions and videos posted after class
- Attendance not required
- Sections mainly involve review material from lectures, sometimes discussing assignments
- Encourage attendance in your assigned section, switching occasionally is fine
- Office hours are held in person
- Nicolas: Wednesdays 3PM-5PM, 203 Giannini
- Leila: Fridays 1:30PM-3:30PM, 237 Giannini
- Email the instructors if office hours don’t work
- Email response within 48 hours during the week
- Don't hesitate to reach out if you have questions, technology problems, or if material is difficult to grasp
Course Websites
- bCourses: course announcements, files, videos, assignments
- DataHub: used for assignment Jupyter notebooks, save work there and submit as PDF
- Gradescope: website for submitting completed assignments
Topics Covered
- Linear regression models
- Functional forms
- Review of random variables
Assignment Deadlines
- Small Assignment 1 due next Friday (September 13)
Linear Regression Models
- Assume a linear relationship between Y and X
- The goal is to find the line that best approximates the true relationship
- Visualized with scatter plots
- X and Y values are plotted on the graph
- Data points often resemble a line
- Line Equation
- ŷ = β 0 + β 1x
- Estimates the predicted value of Y
- ŷ represents the predicted value of the outcome variable
- β 0 + β 1x is the equation of a line
- Residuals
- Represented as uÌ‚Ã
- Difference between predicted Y (yÌ‚Ã) and actual observed Y (yÃ)
Relationships Between Variables
- Models attempt to describe the relationship between variables
- Be cautious of misleading conclusions
- Example: Poor hospital conditions imply that going to the hospital is worse than staying home
- The sample of people who go to the hospital is different from the sample that does not
- No evidence that hospital visits increase health risks
- Research questions can be misleading
- Example: The effect of going to the hospital on full recovery can be misinterpreted if the sample is biased
Key Points to Remember
- Visualize: Picture the data points as a line graph
- Equation: Understand the equation of a line (ŷ = β 0 + β 1x)
- Residuals: Recognize how we measure errors in the model
- Be critical: Don’t jump to conclusions based on sample selection biases
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Description
Explore the fundamentals of the Intro to Applied Econometrics course taught by Nicolas Polasek and Leila Njee Bugha. The course includes in-person lectures, assignment discussions, and various resources available online. Get familiar with the course structure, office hours, and essential topics covered to enhance your learning experience.
