Applied Microeconomics

Lecturer: Gauthier Lanot (gauthier.lanot@umu.se)

November 2022-January 2023

The purpose of this module is to introduce students to the practice of empirical economics. This module complements the theoretical material presented in the module Microeconomic Analysis. This means that at the end of the course students will be able to reproduce the many steps necessary to complete the estimation of common micro-economic models. The module will provide students with the  opportunity to explore the empirical methods used by economists when they approach empirical questions.

The key focus in this module is the use of data to measure/estimate quantities that are economically meaningful, i.e. multipliers, elasticities, marginal effects etc...

The course provides you with hands on experience with analyzing economic data and with some experience of writing your findings in an academic form. The material and the activities completed while you study for this course should contribute to the quality of the dissertation(s) you will produce during your post-graduate studies in economics. 

More specifically during the course you will work on the following four topics:

a) measuring the Elasticity of substitution between capital and labour,

b) Engel Curves and the estimation of a  demand system,

c) the Supply and Demand model on a single market,

d) Expected Utility and the measurement of Risk Aversion.

DataCamp

DataCamp, is an intuitive learning platform for data science and analytics, supports this course.  While studying for this course, you will be able to use the DataCamp's platform to learn how to use R. This is useful to you to complete the tasks required for this particular course and more generally to develop your competences as an economist and a data analyst.

DataCamp’s "learn-by-doing" methodology combines short expert videos and hands-on-the-keyboard exercises to help learners retain knowledge. DataCamp offers 350+ courses by expert instructors on topics such as importing data, data visualization, and machine learning. DataCamp is constantly expanding its curriculum to keep up with the latest technology trends and to provide the best learning experience for all skill levels. Join over 6 million learners around the world and close your skills gap.