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SUMMATIVE ASSIGNMENT – ECON41515
Econometrics Analysis

Read and extend the work reported in the influential paper of Card (1995). The main purpose of the paper is to study the return to education. The dataset Card1995.xlsx on Blackboard Ultra is adapted from the originate dataset of Card (1995) and it contains observations on 3010 people’s information from National Longitudinal Survey of Young Men (NLSYM) for 1976. The dependent variable is the log of weekly earnings (lwage76) and the main regressor of interest is years of schooling (ed76). See the description file for definitions of all variables.

(1)Visualise the relation between lwage76 and ed76. Run the OLS regression of lwage76 on ed76. Report the regression results with robust standard errors. (15 marks)
(2)Run quantile regressions of lwage76 on ed76 at quantiles 0.2, 0.5, and 0.8. Interpret the results and compare them to the OLS results in (1). (20 marks)
(3)Run the OLS regression of lwage76 on ed76, expr, expr2, black, reg76r, and smsa76r. Report the regression results with robust standard errors. Are expr and expr2 jointly predictive of lwage76 How do you interpret the estimated coefficient of expr2 (20 marks)
(4)Explain why ed76 is potentially endogenous in the regressions of (1) and (3) and why college proximity (measured by nearc4) is used as an instrumental variable (IV) of ed76 in the paper. (20 marks)
(5)Estimate the same model as in (3) using IV and report the results. Is the return to education better estimated than the result in (3) (25 marks)

Reference:
Card, David (1995): “Using geographic variation in college proximity to estimate the return to schooling,” in L. N. Christofides, E. K. Grant, and R. Swidinsky (editors) Aspects of Labor Market Behavior: Essays in Honour of John Vanderkamp, University of Toronto Press.

Overall word limit: 1000

SUBMISSION INSTRUCTIONS
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Assignments should be typed, using 1.5 spacing and an easy-to-read 12-point font. Assignments and dissertations/business projects must not exceed the word count indicated in the module handbook/assessment brief.

The word count should:
Include all the text, including title, preface, introduction, in-text citations, quotations, footnotes and any other items not specifically excluded below.
Exclude diagrams, tables (including tables/lists of contents and figures), equations, executive summary/abstract, acknowledgements, declaration, bibliography/list of references and appendices. However, it is not appropriate to use diagrams or tables merely as a way of circumventing the word limit. If a student uses a table or figure as a means of presenting his/her own words, then this is included in the word count.

Examiners will stop reading once the word limit has been reached, and work beyond this point will not be assessed. Checks of word counts will be carried out on submitted work, including any assignments or dissertations/business projects that appear to be clearly over-length. Checks may take place manually and/or with the aid of the word count provided via an electronic submission. Where a student has intentionally misrepresented their word count, the School may treat this as an offence under Section IV of the General Regulations of the University. Extreme cases may be viewed as dishonest practice under Section IV, 5 (a) (x) of the General Regulations.
Very occasionally it may be appropriate to present, in an appendix, material which does not properly belong in the main body of the assessment but which some students wish to provide for the sake of completeness. Any appendices will not have a role in the assessment – examiners are under no obligation to read appendices and they do not form part of the word count. Material that students wish to be assessed should always be included in the main body of the text.
Guidance on referencing can be found on Durham University website and in the Student Information Hub.

MARKING GUIDELINES
Performance in the summative assessment for this module is judged against the following criteria:
Relevance to question(s)
Organisation, structure and presentation
Depth of understanding
Analysis and discussion
Use of sources and referencing
Overall conclusions

PLAGIARISM AND COLLUSION
Students suspected of plagiarism, either of published work or the work of other students, or of collusion will be dealt with according to School and University guidelines.
END OF ASSESSMENT