Research Project: Part I
Please upload a short proposal (one page should be enough) of the empirical question you want to investigate. You may include more than one questions, in case your preferred one does not work out. Please describe the question. E.g. My goal is to investigate the impact of unemployment on home prices. Then, list what data you will need to use to answer the question. E.g. I am planning to use data from 2019 on the price of homes in dollars per sq. foot from X different cities accross the US (btw, what kind of data is that, cross-sectional, time series or panel?) and data on unemployment rates in these cities for the same year. Finally, you need to describe where you will get the data from. E.g. I will get the data on home prices per sq. foot from the Nartional Association of Realtors and on unemployment rates from the Curent Population Survey of the Bureau of Labor Statistics. Please let me know if you have any questions.
Research Project draft 2
Please submit a second draft of your researc project. Make sure you cover the following:
• A clear statement of what you are trying to estimate. E.g. I am trying to examine if steeping more hours before an exam helps improve the exam grade (causality), or, I am trying to see if the number of people carying umbrellas in a dry morning can help predict if it is going to rain later in the day (no causality here, just forecast). Explain the theory behind it and what ir predicts. E.g. studies show that while you sleep, your mind processes the information accumulated during the day. Therefore, we would expect people who sleep more hours before the exam to perform better than those who do note (e.g. because they are cramming). Or, people in an area pay attention to weather conditions so if they can sense when a rain is coming then we would expect them to take an umbrella. Hence, the more people carry umbrellas, the more likely it should be that it is going to rain later.
Describe the methodology. E.g. to assess my theory I will regress the number of hours that Hofstra students slept before their calculus final in the spring semester of and their grade on the final. Or, I will regress the number of Hofstra students carrying umbrellas in each dry morning during the academic year 2022-2023 and whether it raines later on.
• Describe your data sources. E.g. Data on the number of hours Hofstra students slept and their grade in the final come from a survey, number of students carrying umbrella come from observation and data on whether it rained that day come from the weather channel.
Finally, attach a copy of your data for the dependent variable and the independent variable of interest.
Research project draft 3
Please submit a draft in which you specifu (write down) the equations that you are estimating. The equations should look like the ones we have used on the slides. Use Y for the dependent variable, Xi for each variable of interest (e.g. X1, X2, etc) and Wi for any control variables (e.g. W1, W2, etc.). Remember: The goal of the control variables is to address for ommitted variable bias, so provide a short justification of why you need to include them (you are trying to control for influenced that affet Y and may be correlated with your variables of interest). Then run the regressions and include an output from Stata in the draft. Also include a short paragraph on the next steps (e.g. if you are planning to try nonlinear specifications, add more control variables, try IV if necessary). At this point I just want to see that you have some preliminary results and that you know how to interpret them.
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