Structure of the PROJECT: Below is a framework for writing an empirical paper. Introduction A. Organization of the remainder of the PROJECT Outline what will be covered in the following sections of the PROJECT to provide a roadmap of your arguments Body of the Paper (PART 2) (inclusion of these subparts and the length of each depends on the type of TOPIC YOU HAVE SELECTED FOR YOUR PROJECT) A. Presentation of related literature A literature review summarizes the views of other scholars who have written on this topic. The literature review will allow you to demonstrate how other scholars have approached the topic and indicates a gap that you seek to fill. The length of the literature review depends on the type of project you are writing, and the amount of work already written on your topic. B. Application of Econometric Theories You should present the econometric model/theory on which your project is based. You must display mastery of the material covered in class as well as appropriate usage of econometric theories. This does not mean that you have to develop your own mathematical model. Instead, it serves as a means to demonstrate that your ideas are grounded in econometric theory. C. Analysis of Data Set Firstly, provide a description of your data, including a discussion of how the variables for your empirical model are constructed and the sources of all your data. Second, you should provide summary statistics on the relevant variables in a table either in the body of the paper or in an appendix. In the body of the project, you should include a presentation of the results of your empirical analysis and provide a careful interpretation of your findings. Your empirical analysis might entail regression analysis (one of the econometric methods we are learning), a simple statistical analysis of the data, or even the use of graphs and charts to effectively display interesting features of the data that help support the arguments made in the project in terms of substantiating causal relationship. D. Conclusion While concluding the project, you should restate the objective of the project. Following this, you should provide your conclusions taking care to distinguish your contribution from the existing literature on the topic. References: News Articles versus Scholarly References: You may certainly read sources like The New York Times and The Economist to do some background reading on a policy issue. However, these sources are not peer reviewed and therefore are not suitable for a research paper. Econometric Lit, an online database for econometric journal articles and books, is an excellent point from which to initiate a search for scholarly literature. This and other literature databases are available through the Penrose library website. Note that it is not appropriate to use opensource online encyclopedias such as Wikipedia. The parenthetical citations provide limited information about your sources and complete bibliographic information about each source is provided in a separate references page. Footnotes are used to incorporate additional material that is pertinent but supplemental to the statements presented in the text. Graphs and Charts: Graphs and charts should have numbers (such as Figure 1 or Table 1) and titles. The source of the data should be indicated at the bottom of the graph or chart. You may either insert the graphs and charts in the body of the paper or include them in an appendix to the paper. Graphs may be neatly hand drawn or you may use a drawing tool included in your word processing software. Finish A PROJECT about COVID 19 \& ITS AFFECT ONFEAR \& ANXIETY. INDEPENDENT VARIABLE (X): COVID 19. DEPENDENT VARIABLE (Y): AFFECT ON FEAR \& ANXIETY. The fear and anxiety about COVID-19 and its effects can be overwhelming. Social distancing makes it more challenging. Learn how to deal with this pandemic for a project topic. Deliverables To complete the project you must carry out the following tasks: 1. Formulate a hypothesis regarding the relationship between three or more economic variables. When you formulate your hypothesis, think seriously about what you have learned in your economic theory classes. 2. Plot the data that you will use in your regression and use the graphs to suggest a functional form (e.g., linear, log-linear, or quadratic). 3. Summarize descriptive statistics analysis. 4. Estimate the coefficients. 5. Plot the residuals. Are the residuals consistent with the assumptions of classical regression? If not, can you modify the model so that the residuals are consistent with the assumptions? 6. Conduct hypothesis tests. 7. Write a five- Six-page paper. The format of the paper can be either a short paper or a memorandum. The paper should include: a. A description of the issue that you are analyzing. b. State the hypothesis that is being tested. c. Report your estimation results. d. Report the results from your hypothesis test. Include at least one hypothesis test where you are testing if two or more variables, but not all slope coefficients, are equal to some value (e.g., zero). e. Discuss the implications of your results. What are the policy implications of your research? In this exercise you will estimate various statistics of the Linear Regression Model with One Regressor through the construction of various sums and ratio within a spreadsheet program. Throughout this exercise, let Y correspond to Test Scores (testscore) and X to the Student Teacher Ratio (str). To generate answers to all exercises here, you will have to create seven columns and the sums of five of these. They are (i) Yi, (ii) Xi, (iii) Although neither the sum of (iii) or (iv) will be required for further calculations, you may want to generate these as a check (both have to sum to zero). Please type the project into the word. Thanks so much for your hard work on this project, I'll give you a thumbs up!!! Structure of the PROJECT: Below is a framework for writing an empirical paper. Introduction A. Organization of the remainder of the PROJECT Outline what will be covered in the following sections of the PROJECT to provide a roadmap of your arguments Body of the Paper (PART 2) (inclusion of these subparts and the length of each depends on the type of TOPIC YOU HAVE SELECTED FOR YOUR PROJECT) A. Presentation of related literature A literature review summarizes the views of other scholars who have written on this topic. The literature review will allow you to demonstrate how other scholars have approached the topic and indicates a gap that you seek to fill. The length of the literature review depends on the type of project you are writing, and the amount of work already written on your topic. B. Application of Econometric Theories You should present the econometric model/theory on which your project is based. You must display mastery of the material covered in class as well as appropriate usage of econometric theories. This does not mean that you have to develop your own mathematical model. Instead, it serves as a means to demonstrate that your ideas are grounded in econometric theory. C. Analysis of Data Set Firstly, provide a description of your data, including a discussion of how the variables for your empirical model are constructed and the sources of all your data. Second, you should provide summary statistics on the relevant variables in a table either in the body of the paper or in an appendix. In the body of the project, you should include a presentation of the results of your empirical analysis and provide a careful interpretation of your findings. Your empirical analysis might entail regression analysis (one of the econometric methods we are learning), a simple statistical analysis of the data, or even the use of graphs and charts to effectively display interesting features of the data that help support the arguments made in the project in terms of substantiating causal relationship. D. Conclusion While concluding the project, you should restate the objective of the project. Following this, you should provide your conclusions taking care to distinguish your contribution from the existing literature on the topic. References: News Articles versus Scholarly References: You may certainly read sources like The New York Times and The Economist to do some background reading on a policy issue. However, these sources are not peer reviewed and therefore are not suitable for a research paper. Econometric Lit, an online database for econometric journal articles and books, is an excellent point from which to initiate a search for scholarly literature. This and other literature databases are available through the Penrose library website. Note that it is not appropriate to use opensource online encyclopedias such as Wikipedia. The parenthetical citations provide limited information about your sources and complete bibliographic information about each source is provided in a separate references page. Footnotes are used to incorporate additional material that is pertinent but supplemental to the statements presented in the text. Graphs and Charts: Graphs and charts should have numbers (such as Figure 1 or Table 1) and titles. The source of the data should be indicated at the bottom of the graph or chart. You may either insert the graphs and charts in the body of the paper or include them in an appendix to the paper. Graphs may be neatly hand drawn or you may use a drawing tool included in your word processing software. Finish A PROJECT about COVID 19 \& ITS AFFECT ONFEAR \& ANXIETY. INDEPENDENT VARIABLE (X): COVID 19. DEPENDENT VARIABLE (Y): AFFECT ON FEAR \& ANXIETY. The fear and anxiety about COVID-19 and its effects can be overwhelming. Social distancing makes it more challenging. Learn how to deal with this pandemic for a project topic. Deliverables To complete the project you must carry out the following tasks: 1. Formulate a hypothesis regarding the relationship between three or more economic variables. When you formulate your hypothesis, think seriously about what you have learned in your economic theory classes. 2. Plot the data that you will use in your regression and use the graphs to suggest a functional form (e.g., linear, log-linear, or quadratic). 3. Summarize descriptive statistics analysis. 4. Estimate the coefficients. 5. Plot the residuals. Are the residuals consistent with the assumptions of classical regression? If not, can you modify the model so that the residuals are consistent with the assumptions? 6. Conduct hypothesis tests. 7. Write a five- Six-page paper. The format of the paper can be either a short paper or a memorandum. The paper should include: a. A description of the issue that you are analyzing. b. State the hypothesis that is being tested. c. Report your estimation results. d. Report the results from your hypothesis test. Include at least one hypothesis test where you are testing if two or more variables, but not all slope coefficients, are equal to some value (e.g., zero). e. Discuss the implications of your results. What are the policy implications of your research? In this exercise you will estimate various statistics of the Linear Regression Model with One Regressor through the construction of various sums and ratio within a spreadsheet program. Throughout this exercise, let Y correspond to Test Scores (testscore) and X to the Student Teacher Ratio (str). To generate answers to all exercises here, you will have to create seven columns and the sums of five of these. They are (i) Yi, (ii) Xi, (iii) Although neither the sum of (iii) or (iv) will be required for further calculations, you may want to generate these as a check (both have to sum to zero). Please type the project into the word. Thanks so much for your hard work on this project, I'll give you a thumbs up