Introduction

Objectives

Evaluation

Projects

News

Introduction

Research takes many forms­—from basic research done primarily in Universities and Institutes to answers to simple questions such as who borrowed the boss’s lap top.  The research methods we will be examining in this course are in between the two extremes.  It is the sort of research a new college graduate would do in the research department of a bank or the Federal Trade Commission.

In economic research certain mathematical and statistical techniques are indispensable.  It is impossible to function as an economist without some knowledge of quantitative techniques.  Quantitative techniques are used in all branches of economics.  Unfortunately, many students are apprehensive about using mathematics. I think one of the causes of this apprehension is that mathematics is filled with lots of seemingly complex rules and procedures.  In this course the rules are not nearly as important as knowing which technique to use in which situation.  It’s as though you have a staff working for you—a staff that knows all the rules to the most complicated quantitative techniques you can think of.  If you can specify the problem the staff will solve it for you.

The staff is the personal computer.  The computer is excellent at following rules quickly and without error.  It doesn’t miss too many days of work, and never gets a hangover, but, it only does what it is told.  It has no initiative, and it’s not managerial material.  In this course, we will learn how to get the computer to solve the problems we give it.  

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Objectives:

• To teach you how to write effectively and professionally.  It is essential to be able to communicate good ideas to others.  If you have nothing to communicate all the high- powered presentation tools and pyrotechnics won’t do a thing to help.  On the other hand I have seen brilliant ideas go unnoticed because they were poorly presented.  To be able to communicate good ideas you need good ideas and good communication skills.

• To teach you how to interpret and present quantitative data. These skills involve working with graphs, knowing which graph to use in which circumstance, and being able to create them quickly and professionally. They also involve working with equations, building models, and forecasting.  Finally, these skills include being able to apply statistical methods and read the results.

• To develop your computer skills.  Computers are tools, nothing more and nothing less.   Owning an expensive hammer won’t make you a carpenter.  The best sewing machine won’t make you a fashion designer.  The biggest and fastest computer won’t make you an economist or quantitative genius.  Nevertheless, the computer has become an indispensable tool in today’s society.  We will learn how to use it effectively to obtain data over the internet as well as to solve quantitative and statistical problems.

• To assist in your transition between academia and the real world. In the real world you are expected to display some initiative, since your employer seldom has time to explain in detail what your assignment is.  In the real world group work is the norm rather than the exception.  Finally, in the real world presentation is at least equal to content in the evaluation of a project.  

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Evaluation

The objectives of the course will be met primarily through projects.  Some of these projects will be done on your own.  Others will be done in groups.  My role will be to act as a facilitator to help you if and when you get stuck on any of the projects.  The work is not difficult, but it is constant.  The biggest problem you face is falling behind—there is no way to catch up.

By the end of this course, you will be adept at turning out high quality work in short order.  There is seldom enough time to do a project perfectly—what matters is doing your best in the time you have.  You will have a greater appreciation of the difficulties of team work, and have a better idea of what role you should play in a team effort.  Project teams are very much like athletic teams in that success depends on everyone.  A losing team of fine players is still a losing team.

At least 70% of your grade will be based on 10 assignments which are primarily small group projects.  There is a possibility that there may be four 1/2 hour quizzes that will count for up to 30% of your grade.  I will use the quizzes if I feel there is too much free riding on the group projects.

 In all assignments the grade will reflect the quality of both the content and the presentation.  A poorly presented "good idea" receives an evaluation comparable to that received by a well-presented "poor idea."  All assignments must be legible (nothing handwritten), readable and submitted on time.   If your assignment is late you will lose points.  Late assignments must be accompanied by a memo explaining why they are late.  The memo will also be graded.  

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