Final Paper Project Expectation

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# Final Paper Project Expectation
### AECN 396/896-002

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# Final Paper Project Expectation

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# Introduction (3 points)

+ clear identification of what you are trying to find out (research question) [1.5 points]
+ why the research question is worthwhile answering [1.5 points]

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# Data description and exploration (7 points)

+ the nature of the data with summary statistics table [2 point]
+ visualize a few key variables in a <span style="color:blue"> meaningful </span> way [5 points]

.content-box-green[**Important**]

Do not just present summary statistics and graphs. Discuss what you get out of them. Without any such discussions, you will get `\(0\)`.

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# Econometric methods (35 points)

The <span style = "color: blue;"> process and thought history </span> of how you end up with the final econometric models and methods.

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# Results, Discussions, and Conclusions (5 points)

+ interpret and describe the results [3 points]
+ conclusions [2 points]

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# Details on the Econometric Method Section

.content-box-green[**Data generating process**]
+ What variables are involved in explaining the dependent variable? 
  - List all the variables both observed and <span style = "color: blue;"> unobserved </span>.
+ How are they related with each other? 
  - Multicollinearity?
+ What would be the appropriate functional form? 
  - Non-linear impact (e.g., quadratic, log)? 
  - Interactions terms? 
  - Structural difference?

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# Details on the Econometric Method Section

.content-box-green[**Endogeneity and Econometric Methods**]

+ Extensive discussions on why you may have endogeneity problems. What are the sources? 
  - Omitted variable? 
  - Selection bias? 
  - Reverse causality? 
  - Measurement errors?
+ Hypothetical discussion of what econometric methods you can use to deal with the endogeneity problem 
  - Randomization of the variable of interest? 
  - Panel data approach? 
  - Instrumental variable approach?
  - Difference in difference?
+ Detailed descriptions of what you end up doing (explain the process)
  - Why do you think your approach address the endogeneity problem you identified above or not? (<span style = "color: blue;"> It is not at all a problem that you cannot solve the endogeneity problem entirely </span>)
+ Use the appropriate standard error estimation approach 
(heterogeneity, clustered error, etc)

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# Key to writing a successful paper (high grade)

+ Justify and explain <span style = "color: blue;"> everything </span> you did in the paper!!
  - I tested the joint statistical significance of these interactions terms because ...
+ <span style = "color: blue;"> Re-emphasized: </span> I do not care about your results. What I care is the <span style = "color: blue;"> process </span>!!