Undergraduate econometrics instruction / Joshua D. Angrist (Massachusetts Institute of Technology and IZA), JörnSteffen Pischke (London School of Economics and IZA) ; IZA, Institute of Labor Economics
VerfasserAngrist, Joshua David In der Gemeinsamen Normdatei der DNB nachschlagen ; Pischke, Jörn-Steffen In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, January 2017
Elektronische Ressource
Umfang1 Online-Ressource (19, A3 Seiten)
SerieDiscussion paper ; no. 10535
URNurn:nbn:de:hbz:5:2-110845 Persistent Identifier (URN)
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Undergraduate econometrics instruction [0.36 mb]
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The past half-century has seen economic research become increasingly empirical, while the nature of empirical economic research has also changed. In the 1960s and 1970s, an empirical economist's typical mission was to "explain" economic variables like wages or GDP growth. Applied econometrics has since evolved to prioritize the estimation of specific causal effects and empirical policy analysis over general models of outcome determination. Yet econometric instruction remains mostly abstract, focusing on the search for "true models" and technical concerns associated with classical regression assumptions. Questions of research design and causality still take a back seat in the classroom, in spite of having risen to the top of the modern empirical agenda. This essay traces the divergent development of econometric teaching and empirical practice, arguing for a pedagogical paradigm shift.