Developing a Mathematical Model of an Economic Theory

A course project which requires you to develop a mathematical model of an economic theory of your choosing (or of your own development), collect data to test your hypothesis, estimate your mathematical model, and draw conclusions to support your theory. The course project prospectus (this assignment) ensures you are on your way toward completing the course project, and provides the professor the opportunity to provide feedback before the final project is completed.

  1. Describe and discuss the theory or hypothesis you wish to discuss in your paper.
  2. Describe the model you plan to discuss.
  3. Determine the data sources you will use to estimate your model and explain why you feel these data sources are appropriate.
  4. Provide an annotated bibliography of at least six (6) peer-reviewed publications focused on your topic.

The specific course learning outcomes associated with this assignment are:

  • Apply econometrics to conduct and present the analysis of economic data to support business and public policy decisions.
  • Apply regression analysis to interpret the characteristics of populations and test hypotheses.
  • Select and apply the appropriate model to analyze economic data.
  • Explain how to resolve issues of multicollinearity, heteroscedasticity, and autocorrelation in variables.
  • Use technology and information resources to research issues in econometrics.
  • Write clearly and concisely about econometrics using proper writing mechanics.
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