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ECO 3304 — Spring 2006

BASIC TECHNIQUES FOR ECONOMIC RESEARCH

Professor: Isaac McFarlin Teaching Asst: Shak Shivashankara

Office: GR 3.816 TA Office: GR2.816
Phone: (972) 883-4761 TA Phone: (972) 883-4914
Email: imcfarlin@utdallas.edu Email: sts051000@utdallas.edu
WWW: www.utdallas.edu/~imcfarlin TA Office hrs: Wed 3:30–5:00pm & by appt.

Lecture Hours: TR 5:30 – 6:45pm in CB1.108

Office Hours: T 11:00 – 12:00pm and also by appt.
Discussion sect: Fri 11:00am – 12:00pm in GRx.xxx

Course Description: This course is an introduction to the primary methods used in economic
research. Topics include information technology, computer software, mathematics and statistics
for economists, basic regression analysis. This course is designed to provide a foundation all
other upper level economics and finance courses.

Prerequisite:
College level statistics course such as STAT 1342 or SOCS 3303.

Textbooks:
There is a single required reader for the course that you may pick up from Off Campus Books or
the UTD Bookstore. Many of your assignments will be taken from this course reader, and it is
essential for your success in the course. For some individuals with weaker math and statistics
skills, I strongly recommend the other two texts listed below. Each of the recommended texts cost
around fifteen dollars new and will be a worthwhile investment, if remediation or broader
understanding of the material is desired.

Required:
1. Wim P.M. Vijverberg, James C. Murdoch, and Irving Hoch, Basic Techniques for
Economic Research, July 2005. (Manuscript available in the UTD and Off-Campus
Bookstores.)
Recommended:
1. Barbara Bleau, Forgotten Calculus, 3rd Edition. Barron’s educational series. (ISBN:
0764119982)
2. Douglas Downing & Jeffrey Clark, Forgotten Statistics, 1st Ed. Barron’s educational
series (ISBN: 0812097130)

Course Objectives:
1. Improve your capabilities for economic analysis by studying:
Elementary calculus
Elementary probability theory
Statistics with spreadsheets
Analysis of data
2. Prepare you for more advanced courses in economics.
3. Introduce you to some of the essential sources of economic information.

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Evaluation:
1. Three examinations each worth 25 points (total = 75).
2. Five problem sets, each worth 5 points (total = 25).
3. Attendance, worth 5 bonus points (on top of the scale of 100).
4. Quizzes, together worth 5 bonus points (on top of the scale of 100).
5. Final exam is comprehensive and optional; the final will replace your lowest exam grade.

Throughout the semester, you may accumulate up to 110 points (including bonus points) for all
three exams and problem sets. I will grade in terms of total points accumulated as follows below.
There will be no rounding.
93.00 – 110.0 points … A 73.00 – 77.99 points … C
90.00 – 92.99 points … A- 70.00 – 72.99 points … C-
88.00 – 89.99 points … B+ 68.00 – 69.99 points … D+
83.00 – 87.99 points … B 63.00 – 67.99 points … D
80.00 – 82.99 points … B- 60.00 – 62.99 points … D-
78.00 – 79.99 points … C+ 59.99 – and below … F

Notes:
1. The exams are not cumulative. No makeup exams will be offered. If the university is closed
on the day of a scheduled exam, the exam will be given during the next scheduled class period.
2. Each homework assignment has a definite due date. Late problem sets will not be accepted. I
will not accept electronic versions of homework emailed to me. To receive full credit on
homework, one must show all work. In addition, your work should be legible. It is okay to
collaborate on problem sets with fellow students, but you must list the names of each person with
whom you worked. You may work in groups of up to three students. If you submit an assignment
with more than three names, the last person will not receive credit. Homework may be typed, but
graphs must be handwritten. Your lowest homework grade will be dropped.
3. An attendance sheet will be circulated each class period for your signature. There are a total of
28 scheduled class meetings during the semester (not including final exam). If you miss 2 or
fewer classes, then you receive the full 5 bonus points. If you miss 3 classes, then you receive 2
bonus points. If you miss 4 classes, then you receive 0 bonus points. A signed attendance sheet is
valid only if you attend the full class period. The attendance policy is “no fault.” With the
exception of the university being closed, one is never excused for missing a lecture. You can miss
2 classes and still receive all bonus points. I encourage you to use the absences wisely.
4. At times, the class meeting will start with a brief, unannounced quiz, consisting of two or three
questions (multiple choice, definition, short answer, or short computation) on material to be
covered that day. (On such days, the quiz acts as the attendance sheet.) Correct answers on these
quizzes will allow you to earn up to 5 bonus points to your final grade; wrong answers cost you
nothing. The objective of these quizzes is to provide you with an incentive to study the material
ahead of time.
5. Bring your calculator to class. Practice, learn by doing. Become familiar with a PC that has
Microsoft Excel installed. The newer the version, the better it is. Install the Data Analysis
package. If you don’t have a PC, get a computer account at UTD and start going to the lab. Two
computer labs in Green Hall are located in GR3.206 and GR3.602. Ask for help. Work the
practice problems.

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6. Study groups may be very useful. If you do work with a study group on a homework assign-
ment, be sure to write all group members’ names on the assignment. You may work in groups of
up to 3. Even though you’re permitted to submit a single group assignment, you are responsible
for knowing all material, as the study group will not be able to help you during exams.
7. On academic dishonesty: If you put your name on something, you certify that it is your work.
Work submitted under your name that is found not to be yours will earn a grade of 0, and a letter
with a report of this finding will be submitted for inclusion in your university file.
8. Other stuff: If questions arise about grading, contact me via email (imcfarlin@utdallas.edu).
Re-grade requests must be submitted in writing within 1 week after receiving the graded
item; this applies to problem sets as well as exams; failing to show up to pick up items is no
excuse. All exams submitted for re-grades will be re-graded in entirety. Finally, the syllabus is
tentatitive and ultimately, you are responsible for coming to class and finding out if changes are
made to the schedule. If you cannot make it to class, I suggest you contact a classmate to see what
was missed. It is your responsibility to monitor the course website for updates.
9. Incompletes: Please note that the university requires that you have completed at least 70% of
the course material to be eligible for a grade of incomplete. Moreover, the incomplete work must
be completed within eight weeks of the original granting of the incomplete. See the course
catalogue.

10. Special needs: If you have a condition that requires accommodations in this course, please
speak with me after class or in office hours during the first week of class. I will be happy to make
appropriate accommodations provided timely notice is received and the arrangement is consistent
with any recommendations from Disability Services, when applicable. Disability Services can be
reached at 972-883-2098 and is located in the Student Union, room 1.610.

11. Contacting me: The best way to contact me is by e-mail. When e-mailing me or a TA,
identify yourself by first and last name, as well as the course number—ECO 3304.

12. Discussion section: The TA for this course is Shak Shivashankara. She will hold office hours
at the time listed above. I will also try to coordinate a discussion section, where he will present
material and answer questions in a smaller group setting. This section is completely optional. Not
everyone will be able to attend, but feel free to visit his office hours or schedule an appointment.

13. Additional Help: A math/economics lab is available to assist students in all undergraduate
economics courses. It will provide help in ECO courses beyond the help provided by the teaching
assistant. The lab is staffed by Lei Zhang and located at GR2.822. Mr. Zhang can be reached at
lxz051000@utdallas.edu. The lab hours are Monday 9-12pm, Tuesday 6-9pm, Wednesday 4-
6pm, Thursday, 7-9pm, and Friday 9-12pm and 2:30 – 4:30pm. For assistance with mathematics
only, you may also visit the UTD Math Lab located in McDermott Library in Room 2.412. The
hours are 10am until 8pm, Monday through Thursday, and by appointment from 10am to 2pm on
Friday.
14. Showing Your Work & Partial Credit (Sloppiness): On all assignments, quizzes, and
exams for this class, it’s imperative that all steps be shown (i.e., calculations). To receive any
credit for an answer, all work must be shown. If you only provide the “final” answer, you
will not receive any credit for the answer. If I cannot read your answer, follow the steps that
you have taken, and clearly see how you arrived at your answer, you will not receive any
credit for the answer.

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Provided you have shown your work, your answer will be considered correct if it is within
rounding error of the answer I have calculated on the key. Incorrect answers receive no credit.
Partial credit for wrong answers is given in only one case, that of “serial” questions, in which
your answer to one question is used in another. If you get the first question wrong, you will get
the second one wrong, too. Showing your work will enable me to see that you only got the
second question wrong because of your errors in the first one, and you will receive full
credit for that subsequent question.
15. Make-Up Policy: No make-up quizzes or midterm exams will be scheduled. You will be
required to present WRITTEN documentation concerning the excuse, which I will dutifully
verify. Students who miss an exam without submitting a valid excuse beforehand will receive a
score of zero. The optional final exam, which is comprehensive, will serve as the make-up exam
for midterms. Missed quizzes are missed opportunities for extra credit; there are no make-ups for
quizzes.
16. An updated syllabus will be posted on the course website; see first page of document.

Tentative Schedule:

Jan 10 – Feb 14 Mathematics for Economists

Feb 16 Exam #1

Feb 21 – Feb 28 Decision Making & Uncertainty

Mar 2 No Class

Mar 6 – Mar 9 SPRING BREAK

Mar 14 – Mar 28 Decision Making & Uncertainty, continued.

Mar 30 Exam #2

Apr 4 – Apr 18 Empirics for Economists

Apr 20 Exam #3

Apr 27 Final Exam (Optional and comprehensive. But score will replace
your lowest grade. Therefore, taking final could actually LOWER
your overall course grade.)

Problem Set Due Date Schedule:

Jan 26 Problem Set 1
TBA Problem Set 2
TBA Problem Set 3
TBA Problem Set 4
TBA Problem Set 5