Causal Inference

“Correlation is not causation” is a frequent refrain from people investigating relationships in data. But what does this mean? In this course we will focus on empirical tools that economists use to identify causal relationships. Students will explore the concept of causality and estimation of counterfactuals using randomized and natural experiments to study economic and social phenomena. Students will learn to apply the main research designs used by economists including randomized control trials (RCTs), difference-in-differences estimation, event studies, instrumental variables, and regression discontinuity. The ethics of conducting empirical research will also be emphasized throughout the course. (ECON 0211) 3 hrs. lect.