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This course introduces students to econometric approaches to asking and answering questions about the economy relating to employment, health, and well-being. The primary aim of the course is to understand how economists analyze data to determine causal effect. We will analyze data sets to ask and answer socioeconomic questions such as: What factors affect a person’s income, and how do we know? How might we investigate the main causes of unemployment?
Commodities such as cars, smartphones, laptops, and refrigerators were initially considered luxuries but are now widely viewed as everyday necessities. This shift suggests that our understanding of need is shaped by social, historical, and cultural context. In this class we will explore questions such as: how do we distinguish what we want from what we need to live a dignified life? Moreover, how might societies determine which types of needs should be satisfied through market exchange and which should not?