Basic knowledge of Economics, Statistics and Mathematics. No previous knowledge of econometrics is assumed. It will be helpful if one has a good background in statistics.
The course contributes to the educational objectives of the course of study with regard to the economic-management area, in particular with reference to issues related to the industrial economy, contributing to improve the knowledge and understanding of the strategies of companies in the service sectors and the business regulation and the understanding of entrepreneurial and managerial strategies.Regarding new skills in applied knowledge, the goal is to provide techniques for analysing firms market behaviours. You will get knowledge of the new insights deriving from Microeconomic theory and related to undertainty and asymmetric information, to your skill in implementing an empirical investigation, to the understanding of firms' strategies in market sectors. The course presents main contracts arising in modern economies, the strategies that firms with market power may adopt in order to maximize the returns on business investments. The topics range from choice under uncertainty, contract theory with imperfect information, econometric models to investigate economic models, pricing decisions (consumers’ discrimination, bundling and tie-in-sales), anti-competitive behaviour (collusion, entry deterrence and firms’ mergers and/or acquisitions), merger and acquisitions, vertical relations. A consistent part of the course is dedicated to applied studies, using applied Econometrics. The goal is to develop the skills necessary to conduct empirical research in economics.
The main contents are: choice under uncertainty, contracts under asymmentric informazion, recall of statistics, linear model, multiple variable model, tests and inference, discrete variable models, imperfect competition, market structure and market power, price discrimination, product variety, collusion, mergers, vertical relations.
Pepall, Richard, Norman, Industrial organization, 4th Edition, Blackwell
Wooldridge, Introductory Econometrics, Cengage Learning
The course is composed by lectures, tutorials and Stata econometrics labs. Lectures provides general knowledge and acquisition of empirical techniques. Tutorials are numerical exercises to apply economic theory and understand the implementation of the model. Stata econometric labs are laboratory classes where econometric models are applied to data using the software Stata.
There are two methods of assessment of equal overall difficulty. The first involves the realization of a project that can be carried out in a group (maximum 3 components) and the answer to two open questions in the written exam. The second without a project, but with a higher number of open questions (four) in the written exam. For the first modality the evaluation of the course consists of the grade obtained in the written test at the end of the semester and the grade obtained in an empirical project. The project is on Econometrics consists of a group work (each group with a maximum of 3 students) on a set of data provided by the Instructors. The deadline for the delivery (by email) of the group Applied Econometric project is December 8th - midnight. The project contributes up to 12 points of the final grade. Details for the project will be provided during the lessons. The final output of the project is a Keynote / Powerpoint file, including tables and figures. Lower limit: 30 slides. Upper limit: 60 slides. The file must be converted to PDF. The file name is given by the 3 initial surnames of the 3 students that make up the group in capital letters, for example if the surnames of the 3 students are Bianchi, Martini, Rossi, the file name is BMR.pdf. The written exam is organized as follows: 1 numerical exercise (max 10 points) and 1 topic (max 10 points). For the second modality the evaluation is based only on the written exam. In this case, two numerical exercises are proposed (8 points each) and 2 essays - open questions (8 points each).
For students attending and not attending the assessment methods are the same. Even non-attending students can participate in the project. The presence in the course that remains free is not recorded.