Econ Data Analytics: Introduction to Data Management, Statistics and Regression

Oscar Torres-Reyna
ot50@rutgers.edu
Department of Economics, Rutgers University, New Brunswick
Spring 2020 01/27-05/11 14476 01:220:212:01
AB-4450 M 6:10 pm – 9 pm Office hours: After class as needed

Data analytics is a collection of methods and principles that allow us to extract meaning from data. This course will focus on
analyzing quantifiable information. The goal is to introduce basic elements of data collection, cleaning and preparation,
statistical principles, methods, and programing for data analysis. Through the real-life application of statistical methodology, it
is expected that students will be able to analyze, to critically assess, and to reach valid conclusions when dealing with data.

This course will introduce the use of Excel and R for data analysis. Excel is part of Microsoft Office (install latest version, see
https://oit.rutgers.edu/microsoft-office-students). R is open-source and available at http://cran.r-project.org/. Free for academic
purposes, RStudio is a user-friendly interface designed for R, it is available at the following link: http://www.rstudio.com/.

Textbook

Key statistical ideas and formulas presented in the lectures come from the following books:

• Johnson, Richard A., Gouri K. Bhattacharyya, Statistics. Principles and Methods, 7th edition, John Wiley & Sons, 2014.
This book is a good reference on statistical analysis.
• Salkind, Neil J., Statistics for People Who (Think They) Hate Statistics, 4th ed, 2017.
This book is a good reference on how to use Excel for statistical analysis.

Logistics and grade scale

Lectures and other class materials will be made available through Sakai. I will be using Sakai’s mail tool to communicate with
the class, make sure you receive those emails. The syllabus in Sakai will be the most current and it will supersede any previous
versions. For any question or concern students are strongly encouraged to contact me via email at any time. The grade scale for
the class is A = 90-100 / B+ = 85-89.99 / B = 80-84.99 / C+ = 75-79.99 / C = 60-74.99 / D = 50-59.99 / F = 0-49.99. Please note
that the grade scale is rounded to two decimals. Bringing a laptop to class is highly recommended. The instructional method for
the class is through active learning. It is expected students to play a major role in their own learning through classroom
activities and collaborative work.

Course requirements

Grading, track 1 is the official grading scheme:

Type Track 1 Track 2 Given Due

In-class work 15% 15% In-class
Midterm report 33% 15% March 8 March 10
Final report 52% 35% April 19 April 23
Final Exam 35% May 11

The midterm and final reports are take-home exams using data from a randomly assigned country. The goal is to get hands-on
experience in data analysis using real world data. Students must submit answers individually and must show their work (use of
formulas, statistical reasoning, software, and conclusions). Answers must be posted at the front of the report along with name
and the country assigned (see template in Sakai). Late submissions will be penalized with five percentage points per day after
the due date (see template in Sakai, a minute after deadline is considered late). Late submissions without penalty allowed only
in cases of documented health or medical emergency. Missing reports will get a zero grade. Any submission after answers are
posted in Sakai will get a zero grade.

Reports must be written using a word processor (not handwritten). If for any reason a student does not have access to a
computer, Rutgers offers several computing labs, see here https://oit-nb.rutgers.edu/computing-lab-locations. Note that there is
no mandatory requirement to use Excel or R/RStudio to work on the reports, but you must use appropriate software (the reports
cannot be done with a calculator). Students are free to use whatever software they want, however only Excel or R/RStudio will
be supported during class.
 Econ Data Analytics: Introduction to Data Management, Statistics and Regression

In-class exercises will be graded in the scale of 0 to 1. In-class work is done in groups (unless otherwise indicated). Students
will be randomly assigned to a different group each week to work on one or two activities during class. One point will be given
to those who show or describe the work done leading to the right answer. Zero points will be given to those who do not show
the work done or show some gibberish to justify an answer (which may or may not be correct). All information needed to do the
in-class work is in the lecture slides. Answers will be posted on Sakai. Feedback will be sent over email. There is no immediate
make-up for in-class work, a special make-up session for missing activities will be scheduled the week before the final exam
where you can recover up to two missing activities. All answers must be sent in PDF format and before the end of class.

The final exam is a closed-book in-class examination covering major concepts, formulas, and procedures presented in the slides
for the entire course. Can bring a scientific calculator and one letter-size page cheat sheet (can write on both sides). By taking
the final exam, students agreed that their grade will be based on track 2 grading scheme. Once the final exam is taken, there is
no going back to track 1. Please note, while track 2 may provide a better final grade, it could also make it worse. If a student
missed the final exam or ended up not taking it, the final grade will be based on track 1 grading scheme. There are no make-ups
for the final exam, please plan to be available on the day the test is given. Students should review the notes provided.

Students are encouraged to review and to reproduce the examples presented in the lecture slides. This will help to have a better
understanding of the procedures shown and to generate questions that may clarify further doubts. Reviewing lecture material
will help with classroom work which is intended to reinforce the content of the lectures. The goals of in-class work are to help
students to develop their analytic and data management skills, to focus and to prioritize under time constraints, and to develop
collaboration skills.

Course plan
Sequence Topic Chapter
1 Introduction slides
2 Data visualization slides
3 Data collection, preparation, and descriptive statistics 1, 2
4 Bivariate regression and correlation 3
5 Inferences from large samples 8
6 Inferences from small samples 9
7 Analysis of variance 14
8 Simple linear regression 11
9 Multiple linear regression 12
10 Linear regression w/categorical data/interactions slides
11 Categorical data 13
12 Special topics in economics/data analysis slides

Academic integrity - Get familiar with the university’s policy on academic integrity, it will be enforced in this class:
http://academicintegrity.rutgers.edu/academic-integrity-policy/

Absence reporting - It is expected that students attend all sessions. However, if are going to miss class(es), please use the
University absence reporting website https://sims.rutgers.edu/ssra/ to indicate the date and reason for your absence. Reporting
your absence does not excuse from your course responsibilities.

Accommodations - If you need special accommodation due to disability, check the procedures and guidelines set by the Office
of Disability Services: https://ods.rutgers.edu.

Useful links related to student wellness:

• Office for Violence Prevention & Victim Assistance (VPVA): http://vpva.rutgers.edu/

• Counseling, ADAP & Psychiatric Services (CAPS): http://rhscaps.rutgers.edu/
• Just In Case web app, suicide prevention hotline for students: https://goo.gl/BN9Vb9