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Introduction to Econometrics 3rd Edition by James Stock, Mark Watson
Edition 3ISBN: 978-9352863501Introduction to Econometrics 3rd Edition by James Stock, Mark Watson
Edition 3ISBN: 978-9352863501 Exercise 1
Design a hypothetical ideal randomized controlled experiment to study the effect of hours spent studying on performance on microeconomics exams. Suggest some impediments to implementing this experiment in practice.
Explanation
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A randomized controlled experiment is the one that consists of a control group and a treatment group. A control group is the one on which no treatment is imposed. A treatment group is the one which is subject to a particular kind of treatment. The experiment is randomized in the sense that the treatments and groups are assigned in a random manner. Any kind of preference or pattern is not allowed to maintain unbiasedness of the results.
In order to conduct the experiment to study effect of hours spent studying on the performance in a microeconomics exam, one could create blocks 0-1 hour, 1-2 hours, 2-3 hours, 3-4 hours. …, 19+ hours if the strength of the class is big in size and randomly assign students to the newly created blocks. Then students have to study in their assigned blocks in whatever session they want to and also assigned them a stopwatch to break up their study session according to their settings. According to the distribution of performances of students in their assigned block, one might promise them that they would get a letter grade, to assure them that student with longer blocks have an advantage over their peers.
Some possible hindrances to this experiment can be,
1. The number of students would need to be taught by the same professor to remove the impact of different teaching/learning techniques.
2. It is difficult to restrict a student's studying time while studying; students learn at different paces. Some students may study consistently through the course without using the stop-watch correctly while others may cram for the exam in their assigned limits.
3. Students may not study for the required amount of time, because it is something they are asked to do in their own time.
In order to conduct the experiment to study effect of hours spent studying on the performance in a microeconomics exam, one could create blocks 0-1 hour, 1-2 hours, 2-3 hours, 3-4 hours. …, 19+ hours if the strength of the class is big in size and randomly assign students to the newly created blocks. Then students have to study in their assigned blocks in whatever session they want to and also assigned them a stopwatch to break up their study session according to their settings. According to the distribution of performances of students in their assigned block, one might promise them that they would get a letter grade, to assure them that student with longer blocks have an advantage over their peers.
Some possible hindrances to this experiment can be,
1. The number of students would need to be taught by the same professor to remove the impact of different teaching/learning techniques.
2. It is difficult to restrict a student's studying time while studying; students learn at different paces. Some students may study consistently through the course without using the stop-watch correctly while others may cram for the exam in their assigned limits.
3. Students may not study for the required amount of time, because it is something they are asked to do in their own time.
Introduction to Econometrics 3rd Edition by James Stock, Mark Watson
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