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Economics & Statistics

8 March 2017

Quantitative Methods (MGM - Module "Research and Communication") - Summer term 2017

Basic Material / Links:

Links to textbooks:
"Analysis of Economics Data"by Gary Koop, and also the "Look inside" possibilities of a bookseller.

"Business Research Methods" by D. R. Cooper and P. S. Schindler. Here you find the searchable Glossary of the 7th edition and also the ppt's used in class. There is also the students' material including (MC-) tests on the student website of the textbook ...

additional books:
"HOW TO Research" by Loraine Blaxter, Christian Hughes and Malcolm Tight, see also excerpt of page 1-20
"Understanding Social Science Research" by Thomas R. Black (with a preview ("look inside" at Amazon): chapter 5 - 8 for a review of statistical methods (plus applications in Excel)
Essential Quantitative Methods For Business, Management and Finance" by Les Oakshott
Alternatively you might check (free) ebooks, for example at: http://bookboon.com/en/statistics-and-mathematics-ebooks e.g.:
---> Applied Statistics by Mohammed A. Shayib: http://bookboon.com/en/applied-statistics-ebook,
---> An introduction to Business Research Methods by Joe Martelli and Sue Greener: http://bookboon.com/en/introduction-to-research-methods-ebook, ...

.
AULIS, the E-Learning-Platform of the Hochschule Bremen - We are going to use the folder Quantitative Methods _ Prof. Dr. Peter Schmidt for our internal communication and to exchange handouts, solutions of the exercises, presentations, data, ...

Assessment:
The assessment is a LEARNING PORTFOLIO. This is a type of assessment in which the students document their own responsibility for their learning process and learning outcome.
Theoretical definition from the module handbook: "A Learning Portfolio consists of several parts which may include individual as well as team results. Part of the final performance are the reflective statements in which the teams and every student critically reviews and evaluates the individual and teams' learning process as well as the roles of the different partial assessments.
   These partial assessments may be essays, concept papers, individual or team presentations, web pages, web logs, reflected literature research in form of documented bibliographies, own analyses including the documentation of case studies, applied methods, term papers, oral/written tests/exams or also other types that can be proposed to the lecturer. Normally 2 to 4 of these types are selected by the student and have to be approved by the lecturer."

Assessment - Required parts of the Learning Portfolio in this class are described in this document - they might be subject to change / discussion during the semester.

Tentative Time Schedule (may be subject to change):

sess.
date / time Research Methods (Theory: chapter in Cooper et. al.) Quantitative Methods (n) = chapter in Koop Material / case (practical work on cases - see also table below)
1 Mon, 6 Mar
9.00 - 10.30

General Introduction (Welcome.ppt)
(the research process)

-> ResMeth2015_Why-and-What.jpg

Case study museum
(teamwork in class: "Memo")

- Course Material (reader)
- Statistics-QuickStudy (Aulis)

Presentations of the team work tasks (in class)

2 Mon, 6 Mar
10.45 - 12.15
 

Preparing Data:
Basic data management in Excel:
descriptive statistics, tables

- Case Study: surveys in the Kunsthalle Bremen (Paula in Paris and others):
- Questionnaire
- Dataset in Excel and in SPSS format

Videos: data handling & analysis in XL (.swf):
- 1_Orientation in Excel (6:51)
- 2_Basic data Analysis in Excel (12:30)
- 3_Filtering Data in Excel (10:14)
-
4_Pivot Tables in Excel (16:09)
-
5_Pivot 2 - several variables in 1 question (5:26)
or in my YouTube channel (.avi)

3 Mon, 6 Mar
13.15 - 14:45

Part I: Introduction to Business Research
1. Research in Business

Preparing Data:
Measurement & Measurement Scales
used for Descriptive Statistics

Data management in Excel see Black, but also the introductory webpage at microsoft.com: "Introduction to Excel Starter") or www.excel-easy.com

4 Tue, 7 Mar
9.00 - 10.30
11. Measurement +
12. Measurement Scales

Descriptive Statistics

Data Management in Excel: correlation and regression analysis. Excel file 
5 Tue, 7 Mar
10.45 - 12.15

2. Thinking Like a Researcher  

Koop: "Analysis of Economic Data"
Overview/Review chapters (1) to
(3) (correlation)

Presentations of the team work tasks (homework case study Kunsthalle - see table below)

Please download the XL-files by Koop (zip), we are going to use (some of) them in class. Today we will use especially: Forest.xls and HPrice.xls

6 Tue, 7 Mar
13.15 - 14:45

 


(4) An introduction to simple regression XL_Exercises_Econometrics.xls
7 Wed, 8 Mar
9.00 - 10.30

 

(4) An introduction to simple regression
Simple Regression: Goodness of fit, Causality
(5) Statistical Aspects of Regression

 

8 Wed, 8 Mar
10.45 - 12.15

tentative: (6) First introduction into: Multiple Regression        
(scanned versions of chap 5 and 6 in Aulis)
Causality, Specification

Example test, see also student website of Cooper and Schindler
9 Wed, 8 Mar
13.15 - 14:45

Part I: Introduction to Business Research
3. The Research Process 

 

 

 

Inference: Population and sample
chap 18. Hypothesis Testing
    Inference: Population and sample
     ++ Central Limit Theorem

Preparation of case study /
proposal ---------------------------->

 

 

 

Basically the teams should find an own topic reflecting their own interest. The following topics are only examples:

- Hedonic approaches (secondary data)
   o prices for cars, motorcycles, smartphones, cameras … (example for used cars)
   o rental prices, house prices, …
- specific behavior (primary data)
   o demand “functions”:
     + cinema demand
     + alcohol, expenditures for food
     + mobile phones ...

10 Mon 27 Mar
9.00 - 10.30

Your questions ...

Midterm test (30 minutes)

 

 

 

 

 

 

 

 

 


Teams present their PROPOSAL
for the final presentations!
the ppt for the proposal have to be uploaded to AULIS on Saturday, 25 March 2017 18:00

The final presentation time should be around 10 minutes per student.You are requested to deliver a brief handout for all students

The test will contain the topics we'll discuss in class!
Planned topics:
- The concepts discussed about chapter 1 and 3 of Cooper (pages/slides discussed in class)
- Preparing Data: Measurement & Measurement Scales (application to examples)
- chapter (4) of Koop about the concepts (not the formulaI definitions)
- you don't have to learn any formula as they will be provided in the test
   - general questions about the concepts "describe", "explain".
   - computation and interpretation of regression results (simple reg.)

Example test, see also student website of Cooper and Schindler
-> CLOSED BOOK test = NO materiatl permitted, including the Statistics-QuickStudy, NO MOBILE PHONES. A calculator will be helpful.

- Potential Data Sources (just some suggestions):

11 Mon 27 Mar
10.45 - 12.15

Inference: Population and sample

chap 15a: Determining Sample Size (Random - samples)
-> Confidence Intervals
-> Hypothesis tests

 

 

 

Central Limit Theorem (empty sheet used in class)

Video about hypothesis tests (just a further hint, not necessarily exactly the same as we did in class)

Explaining House Prices: XL-file: HPRICE_class.xls, SPSS Label-File
-> Description of some Koop Datasets

12 Mon 27 Mar
13.15 - 14.45

chap 17. Hypothesis Testing
    Inference: Population and sample
     ++ Central Limit Theorem

 

chap 16a: Describing Data

(5) Statistical Aspects of Regression

 

(6) Multiple Regression        
(scanned versions of chap 5 and 6 in Aulis)
Causality, Specifications and Applications
with case studies"Explaining House Prices" and "hedonic cars"     -------->

 

 

(7) Regression with dummy variables
with case study "
Explaining House Prices" and "Firm Foundations in Bremen"

College Town: students' results for simple linear analysis (see tasks in the below)
-
Material/resmeth/CollegeTownQuestion.doc, College_Town.xls

- hedonic regression for used cars
We analyse cars like VW Polo, Opel Corsa, Skoda Fabia, Ford Fiesta
-> HedonicCars.xls

Sample application: Firm Foundations in Bremen:
- Paper and Presentation in German
- Presentation (short version in English)
- Data in Excel format
- SPSS data file, label_en.sps, Reg_Abs_All_en.sps, Reg_Intensi_All_en.sps and an example output

13 Wed 12 April
9.00 - 10.30

chap 18. Hypothesis Testing

Presentations of the case studies
->
Handouts and presentations have to be uploaded to AULIS
by Tuesday, 11. April 18.00 !!!

The presentation time should be 5-8 minutes per student. You are requested to deliver a handout for all students

To be found in a library database (for example Selected Resources - Faculty 1: International Business at TB Economics and Nautical Sciences at SUUB Bremen) or simply at Google Scholar.

14 Wed 12 April
10.45 - 12.15

tentative:
Part II: The Design of Business Research
6. Research Design: An Overview

7. Secondary Data 

(6) Multiple Regression        
(scanned versions of chap 5 and 6 in Aulis)
Causality, Specifications and Applications
with case study "Explaining House Prices"
(7) Regression with dummy variables
with case study "
Explaining House Prices" and "Firm Foundations in Bremen"  
 
15 Wed 12April
13.15 - 14:45

Review and conclusion / your questions

Using SPSS
Review of (4) An introduction to simple regression and (5) Statistical Aspects of Regression (some aspects)

additional information:
if you want (=you don't have to!) you can download a trial version of the statistical program SPSS that we are going to use in class.

Statistical software:
- SPSS: Education, product demos (link "trial software")

Statistical software:
- SPSS: Education, product demos
- EasyReg International, by Herman J. Bierens

Statistical software:
SPSS: Education, product demos (alias PASW)
- Aulis group Folder: ... Literature > SPSS you find some (_older_) Guides (of older versions); you also find the data file und some syntax files
- for more information you can search "SPSS tutorial", "SPSS syntax guide", ... in the web (e.g. "Brief Guide" v19, ...)

- Alternatives: EasyReg International;    SAS, Stata, EViews, ...

   

Presentation of the possibilities of the University Library: Econmics & Business Studies, Selected Resources - Faculty 1: International Business, Data Bases and RefWorks

 

EconLit
http://search.ebscohost.com/login.aspx?authtype=ip,uid&profile=EHOST&defaultdb=eoh

OECD iLibrary: http://www.oecd-ilibrary.org/

Web of Science: http://isiknowledge.com/wos

 

 

-> A corrected version of a Reference List (example)

RefWorks:
Gruppencode: RWUBremen
RefWorks | http://www.refworks.com

RefWorks –Youtube-Channel | http://www.youtube.com/user/ProQuestRefWorks

RefWorks information on the SuUB homepage
http://www.suub.uni-bremen.de/home-english/refworks-and-publishing/refworks-reference-management/refworks-downloads/

RefWorks - short guide: http://refworks.com/content/documents/RefWorks_Quick_Start_Guide.pdf

Modifying an Output Style (and Sharing)
http://www.refworks.com/content/documents/Modifying_an_Output_Style_User_Guide.pdf

Additional tools
Write’N’Cite (short guide) - http://youtu.be/qObr6QoBh2c
OneLine/Cite View (alternative to Write’n’Cite) - https://www.library.ohiou.edu/find/refworks/oneline-citeview.html
RefGrab-It (web pages) - http://www.youtube.com/watch?v=25yPHGyx3T4

1) The Value of Safety as Revealed in the Swedish Car Market - An Application of the Hedonic Pricing Approach

2) A hedonic analysis of American collectable comic-book prices

3) Cinema Demand in Germany


Teamwork: The Groups are asked to prepare their tasks and present them in class.    (The teams have been build with respect to gender and nationality to assure mixed international teams)

Date \ Team:
All              team number ->
1
2
3
4
5
homework to prepare to:

Names -->
Abdelfattah
Abdulzade
Badr
Bagalkot
Bhadoria
Chokratjaroen
El Shahat
Flor
Ghamari
Gebah
Ghosh
Hashemi
Hönninger
Musazada
Nabiyev
Nduka
Ogunfadebo
Saha
Saroj
Sharmizaei
Shrivastava
Suhail
Tahirov
Thompson
Tomar
Tran
Vishnubhatla

1st session
teamwork in class

Discussion and brief presentation in class about project -> Memo          

for 2nd session
7 March

8 up to 10 min. per team

Now suppose you deliver the final presentation in front of the management of the Kunsthalle. Tell them about the project and what you did

Data analysis: Describe the ...

+ socio-demographic characteristics of the respondents

+ describe the metric variables and analyse correlations that may make sense (including Inhabit_sqKm and distance)

All Groups: define management dilemas and => Management / Research Questions for your topic !

... origin of the visitors

and their socio-demographic characteristics for the different groups (question 26 ff in last colum)

(multivariate analysis: use pivot-tables to analyse your variable (mean / percentage) broken down by two dimensions)

... Inducement to visit the exhibition (question 1)

and their socio-demographic characteristics for the different groups

(multivariate analysis: use pivot-tables to analyse your variable (mean / percentage) broken down by two dimensions)

... exhibition = reason to visit Bremen (question 3)

and their socio-demographic characteristics for the different groups (these are only the out-of-town visitors)

(multivariate analysis: use pivot-tables to analyse your variable (mean / percentage) broken down by two dimensions)

 ... Motivation to visit the exhibition (question 17)

and their socio-demographic characteristics for the different groups

(multivariate analysis: use pivot-tables to analyse your variable (mean / percentage) broken down by two dimensions)

 ... Media (question 15 - only the yes/no-answers, not the texts)

and their socio-demographic characteristics for the different groups

(multivariate analysis: use pivot-tables to analyse your variable (mean / percentage) broken down by two dimensions)

27 March

"College Town": All groups should perform
(i) one simple correlation and regression (interpret!)    ... and:

(a) price / quantity  (b) advertising expenditures / quantity (c) distance / quantity (d) distance / advertising expenditures (e) price / distance
27 March

CollegeTownQuestion.doc, College_Town.xls

(ii) the multiple regression, answering ...

(j) what happens if FCI increases the rent by 100 and advertising by 20
+ general recommendations
(i) what happens if FCI decreases the rent by 50
+ general recommendations
(h) what happens if FCI increases the rent by 50 and advertising by 10
+ general recommendations
(g) what happens if an appartment building is located 5 miles further away than the average distance
+ general recommendations
(f) what happens if FCI increases the advertising by 10
+ general recommendations
(practicing for the midterm)

Example test
all teams please work on task 3.1 (compute a and b + interprete them and if you want you can try more parts / experiment)

+ individual teams -->

1 2.2 2.3 2.4 4.1
(t.b.a.) please read the papers and deliver a very brief summary of the research question and results in class:
- do NOT spend more than 30-45 minutes to read the paper !!!
- presentation should be 5-10 minutes

1) The Value of Safety as Revealed in the Swedish Car Market - An Application of the Hedonic Pricing Approach

2) A hedonic analysis of American collectable comic-book prices

3) Cinema Demand in Germany  4) Bremen Happiness Index (select one of the other 4)

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Additional Material:
- Case study I (students' survey)
- Case study I: questionnaire, homework: presentation
-
Formula by P. Schmidt (German - English)

- Central Limit Theorem (empty sheet)
- Suggestions for Presentation-Topics.doc
- Exam 2006
- Resit Exam 2006/07

- Examples for questions Research Methods
- Questions about estimations and tests


R
emember that there are also (MC-) tests on the website of the textbook ...

Case Study: Survey in the Kunsthalle Bremen (Monet and Camille):
- Presentation van Gogh
- Questionnaire
- Data as Excel-file (7.5 Mb) or zipped (1.9 Mb)

Links:

Statistics:

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Bremen University of Applied Sciences
School of International Business
Economics & Statistics