Econometric Methods to Undertake an Empirical Report- Economics Assignment Help

Assignment Task

Is there a relationship between workers' monthly salary and their socio-economic characteristics? 
you are required to write an individual report demonstrating your ability to use econometric methods to undertake an empirical analysis on a topic relevant to economics, business and finance.

The information contained in the data has been extracted from reliable resources and have been constructed and cleaned so they are ready for you to use. The variables are already defined and cleansed; hence, you only need to perform the analysis, where needed the transform of the variables (i.e., by taking natural logs or dividing them as described in proxy column) and find the relevant theory to support your findings and arguments. 

Report Structure
Your report should comprise the following sections and the associated words count is indicative only. Furthermore, marks for any section depend on the quality of words not the words count. 

1. Introduction: What is the topic you’re going to investigate? You may present and discuss stylized facts that serve as a motivation to your research topic.

2.Theoretical and Empirical Background: What is the theory (could be economic/finance/sociology, psychology etc.) underlying the topic you have chosen? You should define concepts, which you’re likely to be testing in the econometric analysis. You should briefly summarise any results of previous or existing work on this topic and how does your work contribute to the overall literature. You should use the theoretical and empirical literature as a motivation to the specific research question(s) you want to address and/or to identify your research questions/hypothesis.

3.Data Description: Describe the data you are using (i.e., produce some summary stats) and identify any patterns or features in the data using graphs.

4. Econometric modelling: Specify the regression model, and discuss why such a specification is adopted, for example, why each of the explanatory variables is included, and describe their anticipated effect (either based on theory, previous empirical work, or your rationale). A formal presentation of an empirical model with full explanation of your notation is useful. Discuss the estimation strategy you intend to adopt, the potential econometric issues that may be relevant and how you plan to deal with them. Also discuss any estimator, tests and approaches you intend to apply to support your arguments in your analysis.

5. OLS regression results: Report and interpret the results from your regression analysis and outline any diagnostic tests you carry out to test for violation of the classical assumptions. Hypothesis tests of your model and variable should be clearly stated, and the test procedures should be explained. All results should be clearly interpreted and any remedial measures that you have taken for the violation of the classical assumptions should be outlined. You will have to explain whether (and, if so, why) you have transformed variables. Interpretation of the preferred model: Interpret the results of your preferred model and explain how they help you to answer the research question(s)/hypothesis(/es) you posed in the introduction. You must also relate your findings to theory/the existing empirical work that you discussed.

6. Conclusion: What conclusions do you draw from your analysis? Are there any policy implications of your findings? What recommendations would you make for further and/or future analysis? 

7. References and Bibliography: You must reference according to APA Harvard style. University provides free access to the software Endnote®. I would strongly recommend you download the software and use it for citation and referencing.

8. Appendix: You are required to attach evidence of results (not data) of your main regressions from EXCEL or STATA as an appendix. Also provide appendices (diagrams, plots, tables, and regression outputs) that can be useful for the reader.

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