Undergraduate Econometrics Instruction: Through Our Classes, Darkly

摘要

As the Stones' Age gave way to the computer age, applied econometrics was mostly concerned with estimating the parameters governing broadly targeted theoretical description of the economy. Canonical examples include multi-equation macro models describing economy-wide variables like unemployment and output, and micro models characterizing the choices of individual agents or market-level equilibria. The empirical framework of the 1960s and 1970s typically sought to explain economic outcomes with the aid of a long and diverse list of explanatory variables, but no single variable of special interest.