Duration analysis is used to address a wide range of questions relevant for policy organizations, central banks, the financial sector, and industry generally. Examples of these questions include: what is the probability that an individual will exit unemployment this week, given he has been unemployed for the past eight weeks; what is the probability that an individual defaults on their mortgage this month given they have not defaulted for the past 12 months; what is the probability that a firm adopts a new technology this year conditional on not having adopted for the past 3 years, and how does this depend on the firm’s market share. The goal of this course is to develop the tools to understand, estimate, and interpret duration analysis models—statistical models used to analyze duration data. Students will gain practical experience organizing data and writing code for statistical software to estimate these models and better understand economic phenomena. 3 undergraduate hours
Available: Spring 2018
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Prerequisites (Must be complete BEFORE taking this course): MATH 220 or MATH 221 (Calculus 1) ECON 302 (Intermediate Microeconomic Theory) or ECON 303 (Intermediate Macroeconomic Theory)
Instructor(s) Teaching Course (varies by semester): Russell Weinstein
Syllabus (varies by semester and instructor): Weinstein
