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ECON42720

Academic Year 2024/2025

Causal Inference & Policy Evaluation (ECON42720)

Subject:
Economics
College:
Social Sciences & Law
School:
Economics
Level:
4 (Masters)
Credits:
5
Module Coordinator:
Professor Benjamin Elsner
Trimester:
Spring
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

Most empirical research --- be it in academia, policy advice or industry --- asks causal questions. Does a higher minimum wage increase unemployment? Does a new product line generate higher revenues? Do higher interest rates reduce inflation? Etc etc. Answering such questions is challenging because in most cases we cannot run experiments. In the last 30 years, statisticians have developed a toolbox named "Causal Inference" that allows researchers to quantify causal effects without experiments. This course will introduce students to the most important techniques in causal inference. These are canonical research designs that can be applied to many interesting questions:

1) Basics of research design
2) Randomised experiments
3) Instrumental Variables
4) Regression Discontinuity
5) Difference-in-differences
6) Synthetic control

About this Module

Learning Outcomes:

On completion of the module, students will be able to:

- Develop a research design for a given causal question at hand
- Assess the suitability canonical research designs for a given research question
- Apply the research designs using R
- Effectively communicate their findings

Indicative Module Content:

1) Basics of research design
2) Randomised experiments
3) Instrumental Variables
4) Regression Discontinuity
5) Difference-in-differences
6) Synthetic control

Student Effort Hours:
Student Effort Type Hours
Lectures

24
Autonomous Student Learning

100
Total

124

Approaches to Teaching and Learning:
Lectures, Computer Labs, Group Projects

Requirements, Exclusions and Recommendations
Learning Recommendations:

ECON41820 Econometrics or a comparable course is a prerequisite.


Module Requisites and Incompatibles
Not applicable to this module.
 

Assessment Strategy  
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Exam (In-person): In-person exam at the end of the term End of trimester
Duration:
2 hr(s)
 Alternative linear conversion grade scale 40% Yes

60

 Yes
Assignment(Including Essay): Two empirical assignments, due in week 7 and week 12 Week 7, Week 12 Alternative linear conversion grade scale 40% Yes

40

 Yes

Carry forward of passed components
No
 

Remediation Type Remediation Timing
In-Module Resit Prior to relevant Programme Exam Board
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment

How will my Feedback be Delivered?

Not yet recorded.

Scott Cunningham (2021), Causal Inference -- The Mixtape, Yale University Press
Nick Huntington-Klein (2022), The Effect, Routledge
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