Microeconometrics

  • Type: Vorlesung (V)
  • : Bachelor
  • Chair: KIT-Fakultät für Wirtschaftswissenschaften - Institut für Volkswirtschaftslehre
  • Semester: WS 22/23
  • Place:

    11.40, Room -116

  • Time:

    Monday, 09:45 - 11:15, weekly

  • Lecturer:

    Prof. Dr. Fabian Krüger

  • SWS: 2
  • Lv-No.: 2500032

Content

Microeconometrics is concerned with modeling data from an individual (`micro') unit like a person, household or firm. The response variables of interest are often discrete. For example, a person's type of employment may be coded as a binary variable (e.g. working in IT sector versus not working in IT sector), and a person's choice of transportation mode can be cast as a multinomial variable (e.g. bike, train, car, or other). These examples differ from the basic econometric setting of a continuous response variable, and nonlinear regression models are likely to be useful.

The course first introduces maximum likelihood estimation which can be used for estimating nonlinear regression models. We then discuss econometric models for various types of response variables (binary, ordered, multinomial, censored), as well as methods for estimation and model evaluation. Throughout the course, implementation via R software plays an important role.

Language

English

Literature

Winkelmann, R., Boes, S. (2006): Analysis of Microdata. Springer.