1Strategic Plan Part I New Product or Service 2Strat.docx

1
Strategic Plan Part I: New Product or Service 2
Strategic Plan Part I: New Product or Service
[Author]BUS/475
March 6, 2017
The business of education services has evolved from a
government sponsored collection of neighborhood schools to a
highly competitive industry where policies that encourage
parental choice direct the funding towards whatever private,
district, or charter institutions can attract the most student
enrollments each year. For the past decade, the state of Arizona
has sustained an unprecedented growth of charter schools within
the boundaries of existing school districts resulting an
enrollment decline and subsequently reduced funding for those
districts. Up to 17% of all Arizona students attend charter
schools which is over triple the national average. (Navarez &
Wyloge, 2016) Gilbert Public Schools is just one of many
school districts that must find a way to innovate and capture the
interest of parents who want the absolute best value of
education for their children and tax dollars. In this paper I will
propose how the new Academy Choice Team (ACT) will drive
strategic planning and resources to build a competitive
advantage in this new era of school choice.
The district acknowledges that while the students are the
primary beneficiaries of the educational services, the parents
are the true customers who ultimately make the choice to enroll
or withdraw their children based on what they believe to be in
the best interests of their children. And the daily experience of
this relationship between the family and the district will
ultimately lead towards a decision to preserve the partnership
through continuing enrollment. The ACT team will be the
innovative strategic division of the district that focuses on the

defining and refining the notion of school choice for parents
within the Gilbert Public Schools District.
Vision and Mission
The vision is “To be the First District of Choice for Parents and
Students.” This is the passionate goal that inspires those who
proudly serve our local community in a district with a rich
heritage of quality education for over 100 years. (Dess, Eisner,
Lumpkin, & McNamara, 2014)
The mission of the ACT team will be “To make GPS the District
of Choice by becoming the District of Choices, showcasing a
Family of Academies” This mission will differentiate the
District from both districts and charters in the surrounding
areas. While some of the surrounding districts have attempted
to gradually expand their services by opening a district
sponsored charter school or creating isolated academies, none
will be as fully committed to the school choice model as Gilbert
Public Schools as this strategy will be implemented to transform
all 40 schools into a family of academies. Additionally, while
the charter schools have been growing in the district
boundaries, they each have a limit of specialization in one area
per charter school. Even a full consortium of the charter
schools in the area will never be as integrated as a school
district to take advantages of the economies of scale and
efficient use of tax payer funds towards administrative costs.
The ACT division will address parents’ need for choice by
providing clear guidance on the suite of specialized curriculum
and programs that will be available for their children not only
within the limited number of grades offered by the charter
schools but throughout the child’s entire academic career. The
division will pull in specialists from several key functional
areas, academics, finance, facilities, school administration,
technology, transportation, human resources, and marketing.
This team of consultants will execute the choice strategies
through close partnerships and collaborations with local and
state businesses and universities who wish to maintain close ties
to the community. The ACT team will additionally leverage the

district’s close partnership with the Town council to anticipate
the needs and provide the educated and skilled workforce that is
critical to the economic growth of the town of Gilbert.
Parents will clearly see which schools feed into the specialized
programs where their children will excel (Dual Language,
Performing Arts, Sports, Medicine, Technology, Agribusiness,
Gifted, and Special Education). These programs already exist at
GPS. However, they seem to be the district’s best kept secret.
The ACT team will work on branding these schools in a way
that reinforces the emphasis on the special academies to support
these programs from preschool all the way to high school
graduation.
Additionally, if the team discovers a change in the trend of
expressed needs of community parents, the district will
implement carefully planned adjustments to existing programs
in response. These actions may include redirection of financial
resources, staff, transportation, or marketing strategies to
swiftly take advantage of the opportunities. At times this may
call for even the creation of new program or elimination of
existing programs. However, by organizing programs under
their respective academy areas, there will be minimum impact to
the branding. For example, the Technology Academy may
decide to discontinue a computer engineering program in favor
of an aerospace program. The academy would still retain its
strong reputation for the engineering track.Alignment
The GPS vision is “Ensure exemplary education that inspires
excellence and success within every learner.” (GPS, 2017) The
ACT vision is focused on making GPS the first choice for
parents with the full understanding that parents will make their
choice based on what they feel gives their children the best
chance of success. Many parents expect the school to do their
part by inspiring children to reach their highest potential at the
level of excellence they can achieve.
The GPS mission and goal is “Gilbert Public School students
are innovative, technologically advanced, global learners. Our
goal is to create a nationally competitive PK-12 academic

system that engages and supports diverse learners through
scholarship, innovation, and technology.” (GPS, 2017) Within
these statements is the emphasis on supporting the diversity of
learners. These students will thrive as they are drawn to the
choices that GPS will offer under the strategic guidance of the
ACT team. Parents who are looking for the special program
that is committed to inspire and encourage their children to
develop their special talents and passions will be drawn to
enroll their children at the respective Academy. Additionally
they will have the security of knowing that even in the special
area, the district will have the financial and technology
resources to provide a highly innovative, engaging, and rigorous
curriculum.
Additionally, GPS promotes its core values through several
statements that focus on the different stakeholders in the
process of providing educational services, the students, the
parents, the staff, and the community. The values of the ACT
team are in complete alignment with these core beliefs.
· This team will ACT on the parents’ desire to see their children
thrive in a healthy and safe educational environment that
prepares them as the best candidate for employment, college
enrollment, or social relationships.
· The team will ACT on the students’ desire to reach their
academic potential and realize the passions and specialized
skills and attributes that help them stand out as uniquely
qualified and confident lifelong learners.
· The team will ACT on the community’s desire to see
transparent financial practices and efficient use of resources to
guarantee the greatest value added educational services as a
proud hallmark of the Gilbert community.
Strategic Guidance
The ACT team will focus on strategies that determine the actual
needs of parents in the community. One of the challenges of
this focus is that the team does not shift the strategy to the point
of alienating current parents who have already chosen the
district. For example, many parents in the district feel that the

biggest draw to the schools is the close community ties where
the student feels that everyone has a personal connection.
While this may be true, the parents who are choosing charter
schools have a different set of priorities in their decision. They
may be more interested in specialized curriculum. The ACT
team needs to use discernment in the strategy adjustment that
considers that both approaches are not necessarily mutually
exclusive.
The ACT team needs to be aware of the key role of marketing to
make sure that both parents and students are aware of the
choices available and how to be successful in those programs,
knowing that they have the full support and resources to realize
the student potential.
Finally, the ACT team will ensure that all decisions are well
communicated in public forums and easily accessible
information published to the district website. This would
include detailed budget line items and voucher expenditures that
are tied to each of the specialized program offerings. This
would be a key deliverable to satisfy the community desire for
transparency.
Guiding Principles and Values
The ACT team supports the goal of social responsibility by
committing to the belief that every student that has reached
their academic potential will be in the best position to make a
positive contribution to society. They will be able to enter in
the employment market or, as a homemaker, raise a family with
values that contribute to community improvement.
From an ethical perspective the ACT division will maintain
compliance and accountability through its transparent financial
practices. This will expose any conflict of interest issues that
may arise in the procurement process.
The cultural values of the district will still be reflected in the
manner that every staff treats one another, the parents and the
students. Honesty, integrity, and respect will remain as our
brand of customer service. This treatment will inspire everyone

to reciprocate by becoming fully engaged in the learning
process and collaboratively work to bring the highest quality of
supplies, curriculum, and staff to support the educational
services.
References
Dess, G., Eisner, A., Lumpkin, T., & McNamara, G. (2014).
Strategic Management: Creating Competetive Advantages (7th
ed.). New York: McGraw-Hill Education.
GPS. (2017). Strategic Operating Plan. Retrieved from Gilbert
Public Schools:
http://www.gilbertschools.net/departments/superintendent_s_off
ice/strategic_operating_plan_2014-2017/
Navarez, G., & Wyloge, E. (2016, Feb 24). Arizona: Charter
School Attendance Doesn’t Reflect State’s Demographics.
Retrieved from NBC News:
http://www.nbcnews.com/news/latino/arizona-school-data-
shows-uneven-distribution-ethnic-groups-n523796
Eco 490, Haskell Spring 2017
Research Project Information Packet
1
A. General Tips for Getting Started
¾ Start with a broad topic, but work to refine your research
question by (1)

geographic location, (2) time period, (3) specific event, (4)
specific policy change,
(5) demographic group, or (6) some combination of these.
¾ As you begin researching a question, keep track of related
questions that arise as
you go. Eventually one of these questions will be your final
research question, but
seldom is it the one you started with.
¾ Look seriously at journal article sources on a given topic
before you have a clear
question. Research is an iterative process – a topic, some
reading, a question, more
reading, other questions, more reading, more questions, etc.
¾ Browse data sources to see what type of information is
available. Sometimes
variables or trends in data can spark interesting questions.
¾ Keep the research project in the back of your mind… news
articles, other classes,
and casual conversations can spark great research questions.
B. Journal Resources
¾ Google Scholar
¾ EconLit
¾ Economic encyclopedias

x New Palgrave Dictionary of Economics
x International Encyclopedia of the Social and Behavioral
Sciences
¾ Handbook chapters (e.g., Handbook of Labor Economics)
¾ Published literature reviews (especially useful for finding
other sources and
identifying open questions in the literature)
x Journal of Economic Literature
x Journal of Economic Perspectives (very undergraduate
accessible)
Tips:
x Read the abstract, introduction, conclusion, tables, and then
the “meat” of an
academic journal article – this saves time and increases
comprehension relative to
reading “front-to-back” as you would a novel.
x Look at the citations listed in a given article to find related,
possibly more relevant
articles.
x In Google Scholar, check the “cited by” link to find newer,
related articles that cited a
given article
https://scholar.google.com/
http://web.a.ebscohost.com/ehost/search/basic?sid=5324ee35-

f4ec-4a50-b6a3-
8529c0c5fef3%40sessionmgr4005&vid=0&hid=4201
http://www.dictionaryofeconomics.com/dictionary
http://www.sciencedirect.com/science/referenceworks/97800804
30768
https://www.elsevier.com/books/book-series/handbooks-in-
economics
https://www.jstor.org/journal/jeconlite
https://www.jstor.org/journal/jeconpers
2
C. Some Publically Available Data Resources (this is my no
means an exhaustive list and
students should not feel constrained to the items here.)
¾ Macroeconomic Data
x FRED (Federal Reserve Bank of St. Louis: Federal Reserve
Economic Data)
¾ International Data
x Penn World Tables
x National Trade Data Bank
¾ U.S. Microeconomic Data
x CPS (Current Population Survey)
x PSID (Panel Survey of Income Dynamics)
x SIPP (Survey of Income and Program Participation)
x HRS (Health and Retirement Study Panel Survey of Income

Dynamics)
¾ U.S. Government Sources
x Census Bureau
x Bureau of Economic Analysis
x Bureau of Labor Statistics
x National Center for Health Statistics
D. Final Paper Guidelines (See syllabus for directions on early
stages such as the proposal!)
I. Introduction (≈½ - 1 page)
x Motivate the question… Why is your paper interesting/worth
reading?
x State the research question(s)… In general, what hypotheses
are you testing?
x Explain, in broad strokes, how you plan to answer the
question.
x Briefly summarize your key findings and relate them to
important policy issues
and/or the broader literature.
x Give a “roadmap” for the remainder of the paper

II. Literature Review (≈1- 1.5 pages)
x Discuss other studies on this topic, and relate each article to
your analysis.
x To the extent possible, focus on methodology, data, and
results (not just results)
x Note whether your study brings up new ideas or expands on
old ones.
x Refer to authors, not paper names (e.g., “Goldin and Katz
(2000) argue that… “).
The title of the paper does not need to appear anywhere except
the works cited.
https://research.stlouisfed.org/fred2/
http://www.rug.nl/research/ggdc/data/pwt/
http://www.trade.gov/mas/ian/tradestatistics/
http://www.census.gov/programs-surveys/cps.html
http://simba.isr.umich.edu/data/data.aspx
http://www.census.gov/programs-surveys/sipp/data.html
http://hrsonline.isr.umich.edu/index.php?p=data
http://www.census.gov/data.html
http://www.bea.gov/
http://www.bls.gov/
http://www.cdc.gov/nchs/
3

III. Model (≈1.5 pages)
x Verbally and mathematically describe and explain the theory
you’re analyzing.
Focus on the dependent variable and key independent variables.
x Note the general variables in your model (e.g., Y = f(x1, x2,
x3…) and briefly why
they are needed and whether the affect the outcome positively
or negatively.
x For key independent variables, make predictions about the
signs of marginal
effects (consider second derivatives and cross-partial
derivatives as needed).
Where appropriate, make any significant predictions about
magnitudes (e.g.,
elastic or inelastic). Justify the predications based on economic
theory.
x Specify and justify the specific econometric model (regression
equation). Given
the theory above, discuss the appropriate functional form and
methodology
(linear, log-linear, OLS, fixed-effects, instrumental variables,
etc.)
x Express the theory in terms of testable hypotheses from the
primary regression
equation. Note any other relevant hypotheses (e.g., changes in

the magnitude of
coefficient estimates for a specific subsample relative the
primary specification).
x Note any restrictions to your analysis (e.g., simplifying
assumptions imposed
between the theory and the empirical model, or ideas that aren’t
testable due to
data constraints)
IV. Data (≈½ - 1 page)
x Name the data source(s) and give salient characteristics and
background info.
x Note whether the data are a cross-section, time series, or
longitudinal.
x Discuss whether the data are appropriate. (Do data correspond
to theoretical
variables? Are the sources reliable and unbiased?)
x Describe and justify any selection criteria used to narrow the
sample.
x Provide information on variables names, units of
measurement, and key
summary statistics. Note any anomalies or interesting features
of the data.

x Discuss potential problems that could affect the analysis (e.g.,
multicollinearity)
4
V. Empirical Results (≈1.5 pages)
x Present and interpret your coefficient estimates. Discuss your
results and
compare them to your predicted hypotheses. Did results match
predictions?
x Address sign, magnitude (economic significance), and
statistical significance.
Focus primarily on your final regression model, although
address any secondary
regression models as they relate to hypotheses presented in the
model section.
x Evaluate the explanatory power of your final model, including
R2, adjusted R2,
AIC, and any necessary considerations based on the error term
analysis. (The
error term analysis should consider issues such as normality,
autocorrelation,
heteroskedasticity, and the influence of outliers).

x Discuss whether data limited your conclusions or ability to
test hypotheses.
VI. Robustness (≈½ page)
x Present additional estimates to convince readers that your
findings are “real.”
x To the extent possible, address any concerns regarding
omitted variables,
alternative theories, biases in the data, sensitivity to outliers,
endogeneity, etc.
VII. Conclusion (≈½ - 1 page)
x Briefly summarize your method and empirical results. Attempt
to reconcile any
differences between your predictions and the results.
x Put your findings in perspective relative to the literature.
Attempt to reconcile
any differences between your results and the literature.
x Highlight the importance of your study. What does it add to
existing knowledge?
What important implications does it have for policy and/or for
the literature?

x Discuss how your research could be extended in the future.
What is the next
step in studying this theory?
Abstract (≈ 100 words)
x State your specific research question(s), and briefly explain
your contribution to
existing knowledge on the topic.
x Summarize your method, data, and empirical results.
References
x Use any standard, accepted format for the works cited (e.g.,
APA).
x Citations should include at least 5 peer reviewed journal
articles.
5
E. Table Guidelines (Example formatting)
Table 1A: List of Variables
Dependent Variable: Wages

Key Independent Variables: Years of Experience
Years of Schooling
Other Control Variables: Gender
Race (Black or White)
Ethnicity (Hispanic)
Dangerous Industry/Occupation
Innate ability
Notes: This is not a typical table to include in a paper, but will
help facilitate
model development after the initial proposal. A list of a
variables might
appear in an appendix with variable definitions. This is
designed as an
example, not necessarily a fully-specified regression.
Table 1: Testable Alternative Hypotheses
Econometric model: � = �0 + �1� + �2�2 + �3� + �4� +
�5� + �6�� + �7� + �8� + �
Predictions: ��
��⁄
��
��⁄
��
��⁄
Dependent Variable: Wages (w)
Key Independent Variables: Experience (E) �1 + 2�2�̅� > 0
�1 > 0

�2 < 0
n.a.
Schooling (S) �3 > 0
�3 + �6� > 0
n.a. �6 < 0
Other Control Variables: Female (F) �4 > 0 n.a. n.a.
Black (B) �5 < 0 n.a. �6 < 0
Hispanic (H) �7 < 0 n.a. n.a.
Dangerous job (D) �8 > 0 n.a. n.a.
Notes: For experience, the second derivative is actually 2�2 but
we can ignore the constant 2 for the sake of
predicting signs. In particular, note that “innate ability”
appeared in Table 1A because we think it likely affects
wages. However, “innate ability” does not appear in Table 1
because there is no appropriate variable to
control for innate ability. If the data set included an appropriate
proxy variable (e.g., IQ score) then we could
include it. Or, if we had panel data, we could use individual
fixed effects to control for innate ability. (As you
can see here, use table footnotes to clarify any necessary issues.
Again, a table of this form is not used in
published papers, but will facilitate early stages of research and
model development.)
Table 2: Sample Statistics
Mean Standard
Deviation
Minimum 25th

percentile
Median 75th
percentile
Maximum
Wages (w)
Experience (E)
Schooling (S)
Female (F)
Black (B)
Hispanic (H)
Dangerous job (D)
Notes: Sample size includes 2,880 observations. (Use as needed
for relevant information.)
6
Table 3: Empirical Results
Dependent variable: wages OLS Fixed Effects
Experience 1.47***
(0.39)

Experience squared
Schooling
Female
Black
Black*Schooling
Hispanic
Dangerous job
Constant
Number of Observations 2,880
R2
Number of Individuals
0.46
1,440

Notes: Robust standard errors are reported in parentheses below
each
coefficient estimates. One, two, and three asterisks indicate
statistical
significance at the 10-, 5-, and 1-percent level, respectively.
(Obviously
the table would be appropriately filled in your version. The
final
regression results might include two, three, or four, main
specifications –
here I have shown one OLS specification and one Fixed Effects
specification, where fixed effects are used to control for innate
ability.
Depending on the specifications, different information should
appear in
the bottom rows. For instance, if my specifications included
dropping or
adding independent variables, I should report R2 and adjusted-
R2. If
comparing models, I might consider including the AIC.)
Table 4: Error Term Analysis
Initial Model Final Model
Error Normality
Autocorrelation
Heteroskedasticity
Key outliers or influential observations
Notes: Details are omitted because this table will differ
substantially by student and might

only include results from specific statistical tests. Appropriate
error term tests will vary
depending on the regression and data set. The final model
includes all variables and the
appropriate functional form. The initial model might be a
simpler functional form, have
fewer variables, and/or have yet to correct for autocorrelation,
etc.
7
Table 5: Robustness
Dependent variable: wages Log-Linear Alt. Model 2 Alt. Model
3
Experience
Experience squared
Schooling
Female

Black
Black*Schooling
Hispanic
Dangerous job
Constant
Number of Observations
R2
Notes: Robust standard errors are reported in parentheses below
each
coefficient estimates. One, two, and three asterisks indicate
statistical
significance at the 10-, 5-, and 1-percent level, respectively.
(Obviously the table
would be appropriately filled in your version. Here, report
regression results that
can be compared to Table 3. For instance, one alternative model
might consider
log-linear instead of linear regressions in wages to see if results
are robust. I might
consider adding other explanatory variables or splitting the
sample. Formatting

should follow that of Table 3, but details will differ
substantially by project.)
F. A Couple of Reference Guides for Writing an Empirical
Economics Research Paper
Van Gaasbeck, Kristin A. 2007. Writing in Economics:
Components of a Research Paper. Department
of Economics, California State University, Sacramento,
www.csus.edu/indiv/v/vangaasbeckk/resources/writing/comp.ht
m. (Accessed 1/24/2016).
Dudenhefer, Paul. 2014. A Guide to Writing in Economics.
Department of Economics, Duke
University. https://econ.duke.edu/uploads/media_items/a-guide-
to-writing-in-
economics.original.pdf. (Accessed 1/24/2016).
x The PDF for this source is also on Isidore under our reading
folder. I strongly suggest
reading Part II (all sections), Part III (all sections), and Part IV
(sections 18-23).
http://www.csus.edu/indiv/v/vangaasbeckk/resources/writing/co
mp.htm
https://econ.duke.edu/uploads/media_items/a-guide-to-writing-
in-economics.original.pdf
https://econ.duke.edu/uploads/media_items/a-guide-to-writing-
in-economics.original.pdf

Economics 490-02: Senior Capstone
Department of Economics & Finance, University of Dayton
Spring Semester 2017
TTH 3:35 - 4:50 pm, Miriam Hall room 106
Instructor: Dr. Nancy Haskell
Office: Miriam Hall 620
Email: [email protected]
Office Phone: (937) 229-3619
Office hours: MW 2-4pm, TTH 10-10:30am & 12:30-1:30pm,
and by appointment.
I also operate on an “open-door” policy and encourage you to
stop by anytime during the day.
Course website: All course materials such as the syllabus,
readings, and major assignments can be found
on the Isidore course website. If you have any problems
accessing the website on Isidore, please contact me
immediately.
Course Overview: This is the capstone course for all economics
majors, and it focuses on the practical
application of economic analysis. Students utilize the
theoretical, mathematical, and statistical methods
learned through the economics major to complete and present a
research project. In addition, students
read about, analyze, and discuss current economic issues.
Relevant matters include the state of the U.S. and
global economy, as well as other current topics such as those
raised during the recent presidential campaigns.
Course Objectives: The primary objective of the course is for
students to extend their proficiency in theoret-

ical and statistical methods through practical application.
Students will be able to: (1) read and understand
scholarly economic literature, (2) analyze data with appropriate
statistical methods, (3) relate theoretical eco-
nomic models to empirical results, and (4) convey research
findings clearly and concisely through scholarly
writing and oral presentations. The secondary objective of the
course is for students to become "dinner-
table conversational" in current economic issues as they prepare
for the job market. Students will be able
to offer an accurate and informed discussion of real-wold
economic topics using an appropriate blend of
professional terminology and ordinary language.
Materials: There is no textbook for the course. However, every
student must have access to an appropriate
statistical software program on a laptop computer. STATA is
recommended, but SAS or R is also acceptable.
If you would like to use another program, you must clear it with
the instructor. Short-term STATA licenses
for the course are available at discounted student pricing. To
purchase a STATA license:
1. Go to http://www.stata.com/coursegp
2. Select package (small STATA for 6-months at $38 is
sufficient)
3. Input GradPlan ID "NH490" in the GradPlan ID field of the
End-user Information tab during the
checkout process.
Let me know if you have questions or problems. Do this ASAP!
It may take 1-2 days to get access, and you
need the statistical software on your laptop before class on
January 26th.

1
https://isidore.udayton.edu/portal/site/81c975bd-6d4c-4c83-
9dad-89523b2f3c75
http://www.stata.com/coursegp
Late Policy: I do not accept late work. If you have a valid
reason for needing an extension or missing an
assignment, contact me in advance. Extenuating circumstances
will be dealt with on a case-by-case basis.
Grade Distribution: (Note that I round all fractional points up
when I calculate your final grade.)
93-100: A
90-92: A-
87-89: B+
83-86: B
80-82: B-
77-79: C+
73-76: C
70-72: C-
60-69: D
Grading:
Research Proposal: 5% (Tuesday, Feb. 7th)
Replication Exercise: 10% (Tuesday, Feb. 21st)
Introduction, Literature Review, Model, & Data: 5% (Tuesday,
Feb. 27th)
Initial Empirical Analysis: 5% (Tuesday, March 14th)
Second Empirical Analysis: 5% (Thursday, March 23rd)

Presentation at Stander Symposium: 15% (Wednesday, April
5th)
Final Research Paper: 20% (Thursday, April 20th)
Class Participation: 15%
Final Exam: 20% (Friday, May 5th)
Final Exam: The final exam will be cumulative, focusing on the
research methods, readings, and current
topics discussed throughout the course.
Class Participation: Satisfactory class participation consists of
meeting all of the following expectations.
Students are expected to attend class having completed the
appropriate reading, make a reasonable effort to
contribute to class discussions in a productive manner, ask
substantive questions, give reasonable responses,
and respect their peers. Students are expected to be present,
engage in peer review, and work productively
on their own projects during the research workshop and lab
days. Students are also expected to attend at
least eight their classmates’ presentations at the Stander
Symposium on Wednesday, April 5th. Failure to
attend presentations or appropriately engage in class discussions
and group/lab work will result in a lower
participation grade.
Replication Exercise: (Due Tuesday, February 21st) Students
will replicate select tables from an academic
journal article of the instructor’s choosing. In addition, students
will empirically test one interesting exten-
sion to the paper. Students will work in groups of 2 on this
replication exercise. While students may choose
their partner, the instructor reserves the right to modify groups
to ensure that as many groups as possible
have at least one member who has completed a course in
econometrics or forecasting. Each student will

submit their own copy of: (1) the STATA code and (2) a
formatted copy of the replicated tables. Each group
of two students will submit one set of short slides with (3) the
extension and results. All of the material is
due at the start of class on the specified due date. The groups
will then each spend 5 minutes presenting
their extension on Tuesday, February 21st.
Research Project:1 This assignment is designed for students to
demonstrate mastery of three skills: (1)
connect economic theory with empirical analysis, (2) relate
individual research to the economics literature,
and (3) communicate research findings effectively through both
oral and written mediums. Students will
complete the project in multiple stages, receiving peer and
instructor feedback throughout the semester. The
final product will be a 5-8 page paper (excluding tables and
references) and a presentation at the Stander
Symposium. Details for each stage of the project are described
below.
1Students may not submit the same research paper that has been
or will be submitted for a grade in any other course at the
University, including but not limited to econometrics,
forecasting, independent studies, or honors thesis research.
Students may,
however, use the same data source for projects in this and any
other of these classes if cleared with the professor. Failure to
generate
a sufficiently new research paper in this course will be
considered cheating.
2

Note: At each stage, unless otherwise specified, (i) submit an
electronic copy prior to the start of class to
Dropbox, (ii) bring 1 hard copy of the entire write-up to class,
and (iii) bring 3 copies of all tables to class.
1. Research Proposal: (Due Tuesday, February 7th) The
proposal should be typed and all sources
should be properly cited. It should include the following:
• 4-5 typed paragraphs that address the following questions: (a)
What is your research question
and why is it important or relevant? (b) What is your main
dependent variable? (c) What specific
hypotheses are you testing, and which key independent
variables are you using to accomplish
this? (d) What other variables are being used as control
variables, and why are the needed? (e)
How does your research project relate to at least one peer-
reviewed study?
• The specific data source(s) that you will use to conduct the
study
• Citations for at least four other relevant peer-reviewed journal
articles.
• Table A1, as shown in the example research packet, that
includes a list of dependent & indepen-
dent variables.
2. Introduction, Literature Review, Model, & partial Data: (Due
Tuesday, February 27th) Turn in a
draft of the paper (less than 4 pages, excluding tables and
references) that includes the Introduction,
Literature Review, and Model sections, as well as a partial Data
section. Include an updated version
of Table A1 and add Tables 1 and 2.

• Introduction: The introduction should briefly provide
background on the topic, introduce the
research question and why it is interesting, and preview the rest
of the paper. Much of this can
be derived from your research proposal. Note that you will
eventually update the introduction
after you complete the full project.
• Literature Review: A literature review is not an annotated
bibliography. A well-written literature
review compares and contrasts the relevant papers and relates
them to the current study. Your
research must reference at least 5 relevant peer-reviewed
journal articles.
• Model: Discussion of the empirical model should include (a)
the regression equation, (b) jus-
tification for the functional form and choice of independent
variables, and (c) clear, testable
hypotheses for coefficient estimates supported by relevant
economic theory. Create Table 1
summarizing your econometric model and predicted coefficient
estimates for key independent
and some control variables, as illustrated in the example packet.
• Partial Data: This section should briefly describe the data
source(s) and present summary statis-
tics in Table 2. See table examples in research paper packet.
Basic summary statistics should
include: sample size, mean, standard deviation, minimum, 25th
percentile, median, 75th per-
centile, and maximum.
• Submit an electronic copy of the STATA code used to
generate the summary statistics.

3. Initial Empirical Analysis: (Due Tuesday, March 14th) This
component should include revised ver-
sions of your Introduction, Literature Review, and Model
sections (including Table A1 and Table 1).
You should now include a complete Data section with an
updated version of Table 2, as well as an
Empirical Results section with Table 3. The draft should be less
than 6 pages, excluding tables and
references.
• Data: In this section, describe the data set (e.g., cross-section,
time series, or panel data). Ad-
dress variable names, units of measurement, and reliability of
the data. Is it reasonable to assume
the data are unbiased? Discuss whether the data correspond to
economic variables proposed
by the theory. Include an updated version of Table 2 with basic
summary statistics, and any
other subsequent tables required to describe the data (e.g., one
might break dummy variables
3
out by subgroup).2 Discuss interesting points about the
summary statistics for key dependent
and independent variables. Consider any other problems that
might affect your analysis such as
multicollinearity, missing observations, or concerns over data
quality.
• Empirical Results: Create Table 3 that reports regression
results for at least one model. Include
additional models in subsequent columns of the table as needed.

Include a brief write-up that
(a) interprets the regression results as they relate to the
predicted hypotheses, (b) discusses the
most appropriate model, and (c) addresses any concerns with the
regression model raised by the
results. Keep the writing brief because the analysis may be
revised substantially.
• Submit an electronic copy of the STATA code used to
generate the summary statistics and results.
4. Second Empirical Analysis: (Due Thursday, March 23rd)
Include all of the same components as in
the Initial Empirical Analysis, with all necessary revisions. In
addition, create the following:
• Table 4 that reports an analysis of the error term for your
preferred model (normality, autocor-
relation, heteroskedasticity). Refer to the research paper packet
and class notes for examples.
Update the writing from the initial empirical analysis to
accommodate all revisions and to ad-
dress any concerns raised by the error analysis.
• A Robustness section, which addresses any necessary
modifications to the empirical model used
to rule out alternative stories that would explain your results.
To the extent possible, the section
should also attempt to address any serious concerns regarding
quality of data, mismatch between
data and theoretical variables, or outliers. Report robustness
checks in Table 5.
• Again, submit STATA code on-line.
5. Draft of Slides for Stander: (Due Thursday, March 30th)

Students should prepare to give a 10 minute
presentation of their research. Slides should be neat,
informative, and readable. Regression results
tables are often difficult to fit on a slide in appropriately large
font. Do not sacrifice readability to
squeeze results onto the slide. Slides should appropriately cover
all sections of the paper, including a
conclusion slide. These are ungraded, but necessary for peer
feedback.
6. Presentation at Stander Symposium: (Due Wednesday, April
5th) Students should e-mail their
slides to [email protected] by 8 a.m. on Wednesday, April 5th.
Presentations will occur every
15 minutes at assigned times. Students are expected to attend at
least 8 other presentations.
7. Final Research Paper: (Due Thursday, April 20th) The final
research paper should include revised
versions of all sections and tables discussed above
(Introduction, Literature Review, Model, Data, Em-
pirical Results, & Robustness). In addition, the final research
paper should also include a Conclusion
that summarizes the research, addresses the relevance of the
findings, and discusses possible gaps or
extensions for future work in a couple of paragraphs. The final
product should be 5-8 pages in length,
excluding tables and references. It should also include a title
page with an abstract. The abstract is a
short paragraph that summarizes the research question,
contribution, method, and key findings. The
paper should be polished and well-written, with appropriate
citations. Again, submit final STATA
code on-line.
2See table examples in research paper packet. Only include

subtables that relate to the empirical analysis... do not include
extraneous tables! Label these additional tables as 2.1, 2.2, etc.
4
University Policies
Intellectual Property Statement: The materials shared with you
during this course are authored and owned
by the instructor, the department, the school and/or the book
publisher. Copyright laws must be respected in
using these materials. For example, unless authorized to do so,
do not share course materials with anyone
outside the course.
Academic Honesty: I encourage you to talk with each other
about the readings and ideas brought up
in class. But in all assignments to be graded as individual work
you are expected to do your own writ-
ten work. In the case of group work, all members of a group
will be held responsible for the content
of work turned in to satisfy group assignments. The instructor
will keep a healthy eye out for possi-
ble plagiarism and other forms of academic dishonestly when
evaluating your work. For specific uni-
versity policies concerning academic honesty, see the
University’s Academic Honor Code in the Aca-
demic Catalog.
(http://catalog.udayton.edu/undergraduate/generalinformation/
academicinformation/theacademichonorcode/)
Honor Pledge: The University of Dayton Academic Honor Code:

A Commitment to Academic Integrity I
understand that as a student of the University of Dayton, I am a
member of our academic and social com-
munity, I recognize the importance of my education and the
value of experiencing life in such an integrated
community, I believe that the value of my education and degree
is critically dependent upon the academic
integrity of the University community, and so In order to
maintain our academic integrity, I pledge to:
• Complete all assignments and examinations according to the
guidelines provided to me by my in-
structors,
• Avoid plagiarism and any other form of misrepresenting
someone else’s work as my own,
• Adhere to the Standards of Conduct as outlined in the
Academic Honor Code.
In doing this, I hold myself and my community to a higher
standard of excellence, and set an example for my
peers to follow. Instructors shall make known, within the course
syllabus, the expectations for completing
assignments and examinations at the beginning of each
semester. Instructors shall discuss these expectations
with students in a manner appropriate for each course.
Dropping the Course: You are responsible for understanding the
university’s policies and procedures re-
garding withdrawing from courses. You should also be aware of
the current deadlines and penalties for drop-
ping classes. Information on withdrawal from courses is
available in the Academic Catalog under Grades
and Scholarship. You may also want to speak with your
academic advisor or the Deans Office from your col-

lege or school.
(http://catalog.udayton.edu/undergraduate/generalinformation/
academicinformation/gradesandscholarship/)
Student Evaluation of Teaching: The university will ask for
your anonymous feedback regarding instruc-
tion in this course through the online Student Evaluation of
Teaching (SET) as your candid, respectful
opinions and constructive suggestions have an impact on the
quality of teaching at UD. Instructions for how
to complete SET will be sent to your UD email account toward
the end of the semester, and I may give you
additional instructions (for example, whether you will complete
SET in the classroom). If you encounter
technical problems accessing SET, contact the UDit Help Desk
at 937-229-3888 or [email protected]
To learn more about SET, visit http://go.udayton.edu/set.
5
http://catalog.udayton.edu/undergraduate/generalinformation/ac
ademicinformation/theacademichonorcode/
ademicinformation/theacademichonorcode/
ademicinformation/gradesandscholarship/
ademicinformation/gradesandscholarship/
http://go.udayton.edu/set
University Services
Students with Disabilities: If you anticipate or experience
physical or academic barriers based on disabil-
ity, please let me know immediately so that we can discuss

options. You are also welcome to contact the
LTC’s Office of Learning Resources (OLR) to discuss
reasonable accommodations. Please contact OLR at
937-229-2066 (TTY 937-229-2059 for deaf/hard of hearing), by
email at [email protected]
or stop by OLR in the LTC, room 023 Roesch Library. If you
have an Accommodation Letter provided by
OLR, please contact me to discuss. If you need assistance
accessing print material including textbooks and
electronic material such as PDF documents, please review the
OLR website information about alternative
formats under Disability Resources.
(http://go.udayton.edu/disability –> Alternative For-
mats)
Support for Your Learning in This Course: The Ryan C. Harris
Learning Teaching Center’s Office of
Learning Resources (OLR) is a learning resource for students,
parents, faculty, and staff at the University
of Dayton. OLR offers a wide variety of information and
services to help everyone become a successful
learner. Peruse the web site, attend one of our offerings, or
contact our office and meet with a staff member
– however you look at it, OLR is Your Partner in Learning!
Please contact OLR at 937-229-2066 (TTY
937-229-2059 for deaf/hard of hearing) or visit the office on the
ground floor of Roesch Library (LTC 023)
if you would like to talk about how you could become a more
effective learner. You can also check out the
website: http://go.udayton.edu/learning.
Writing Support for This Course The Write Place offers peer-to-
peer writing support on any writing as-
signment and at any stage of the writing process. You can drop-
in to the Write Place without making an
appointment. The Write Place is located in the Knowledge Hub

on the first floor of Roesch Library. Contact
the Write Place Coordinator at 937-229-2068 if you have any
questions. You can also visit the LTC’s Office
of Writing, Research, and New Media website at
go.udayton.edu/writeplace.
Research Support for This Course: The Research Help desk at
Roesch Library offers expert librarian
consultations for research needs on any topic. Visit the
Knowledge Hub on the first floor of Roesch Library,
no appointment necessary. Librarians will also assist with
research questions via email at [email protected]
or the Get Help website at
http://www.udayton.edu/libraries/borrowing_hours_and_
services/knowledge_hub.php.
Early Alert/Faculty Feedback Initiative: The University of
Dayton makes student success a priority. As
a result, this course is participating in the Early Alert/Faculty
Feedback initiative. As the instructor in this
course, if I note that you are struggling with issues such as
attendance, class participation, or assignment/test
performance, I may choose to send notification to your
academic Dean’s Office through the Faculty Feed-
back system. Your Dean’s Office may choose to contact you to
discuss ways to improve your performance.
These referrals are designed to maximize your chances for
success at the University, not as punishment,
so please respond to any communications you may receive from
me or your Dean’s Office regarding your
academic progress in this course.
6
http://go.udayton.edu/disability
http://go.udayton.edu/learning

go.udayton.edu/writeplace
http://www.udayton.edu/libraries/borrowing_hours_and_service
s/knowledge_hub.php
http://www.udayton.edu/libraries/borrowing_hours_and_service
s/knowledge_hub.php
Students must bring a laptop to all lab days and research
workshop days.
TENTATIVE COURSE OUTLINE: (subject to modifications,
depending on our weekly progress)
Date Activity Reading Assignment Due
Tues. 17-Jan Introduction
Thurs. 19-Jan Getting Started on Economic Research
Tues. 24-Jan Getting Started on Economic Research
Thurs. 26-Jan Econometrics with STATA Lab Download
STATA or other software
Tues. 31-Jan Econometrics with STATA Lab
Thurs. 2-Feb Econometrics with STATA Lab
Tues. 7-Feb Research Workshop & Current Topics Research
Proposal Due
Thurs. 9-Feb Current Topics TBA
Tues. 14-Feb Journal Article Discussion & Replication Lab
Article TBA
Thurs. 16-Feb Replication Lab
Tues. 21-Feb Presentation of Replication Extensions
Replication Due
Thurs. 23-Feb Current Topics & Research Workshop TBA
Tues. 27-Feb Research Workshop & Current Topics Intro., Lit.
Review, Model, & Data Due
Thurs. 2-Mar No Class – Happy Spring Break
Tues. 7-Mar Current Topics TBA
Thurs. 9-Mar Research Workshop
Tues. 14-Mar Research Workshop & Current Topics Initial

Empirical Analysis Due
Thurs. 16-Mar Econometrics Review & Current Topics TBA
Tues. 21-Mar Research Workshop
Thurs. 23-Mar Research Workshop & Current Topics Second
Empirical Analysis Due
Tues. 28-Mar Current Topics & Research Workshop TBA
Thurs. 30-Mar Research Workshop & Current Topics Draft of
Slides Due
Tues. 4-Apr Current Topics & Research Workshop Prepare for
Stander on April 5th
Wed. 5-Apr STANDER PRESENTATIONS
Thurs. 6-Apr No Class – Stander Replacement
Tues. 11-Apr Research Workshop & Current Topics TBA
Thurs. 13-Apr No Class – Happy Easter Break
Tues. 18-Apr Current Topics & Research Workshop TBA
Thurs. 20-Apr Current Topics Final Research Paper Due
Tues. 25-Apr Current Topics TBA
Thurs. 27-Apr Course Wrap-up
Fri. 5-May FINAL EXAM 12:20-2:10 p.m.
IMPORTANT DUE DATES
Date Assignment Due
Tuesday, Feb. 7 Research Proposal Due
Tuesday, Feb. 21 Replication Code, Tables, & Extension Due
Tuesday, Feb. 27 Introduction, Literature Review, Model, and
partial Data Sections Due
Tuesday, March 14 Initial Empirical Analysis Due
Thursday, March 23 Second Empirical Analysis Due
Thursday, March 30 Draft of Slides Due
Wednesday, April 5 Presentation at Stander (final slides due at
8 a.m.)
Thursday, April 20 Final Research Paper Due
Friday, May 5 Final Exam 12:20-2:10 p.m.
7

Table1
Econometric model:
�= �0 +�1w+�2b+�3as+�4a1539+ �4a4069+�
Predictions:
dy/dx
d2y/dx2
d2y/dx2
Dependent Variable:
Income (I)
Key independent variables:
Age(a)
β1+ 2β2 Ē>0
β1>0
β2<0
n.a
Other control variables:
White(w)
β3
n.a
n.a
Black (b)
β4
n.a
n.a
Asian (as)

β5
n.a
n.a
Age15_39(age1539)
β6
n.a
n.a
Age40_69(age1539)
β7
n.a
n.a
Table 1A
Dependent variable
Income
Key Independent Variables
Age
Other Control Variables
White
Black
Asian
Age15_39
Age40_69
Table 2
Mean
Standard deviation
Minimum

25th percentile
Median
75th percentile
Maximum
Income
52847.16
8646.483
36796
46693
50836
58252
74551
Age1539
.33652
.0158256
.291
.328
.336
.345
.396
Age4069
.3739486
.0218118
.279
.363
.375
.384
.43

White
.8020629
.1157772
.269
.719
.8175
.888
.972
Black
.1111743
.0954121
.006
.035
.083
.161
.38
Asian
.04538
.0765542
.006
.017
.027
.047
.567
Race
.9586171
.0477795
.678
.942
.973
.991
1.026
Table 3

VARIABLES
OLS
clusterSE
OLS
clusterSE
OLS
age1539
87747.242
108811.951*
1.912
[52,664.765]
[61,705.641]
[1.184]
age4069
-129830.041***
-120056.791***
-2.274***
[38,832.259]
[39,283.405]
[0.755]

black
-38421.505
-56706.969
-1.26
-1.581**
[46,937.956]
[41,974.303]
[0.836]
[0.747]
asian
2166.779
7741.906**
-0.093
0.01
[5,134.188]
[3,609.254]
[0.123]
[0.096]
Constant
81842.353***
68790.468***
72194.257**
11.163***
11.282***
[25,643.207]
[1,996.386]
[29,642.889]
[0.035]
[0.545]

Observations
350
350
350
350
350
R-squared
0.994
0.991
0.994
0.991
0.994
Table 4
Hausman test
Ho: �re= �fe
x2 stat= 47.25
p value=0.0000
Conclusion
Reject ho, therefore include fixed effects
F-test
Ho: all state fixed effects statistically insignificant
F-state=110.19
P value=0.0000
Conclusion
Reject ho, therefore include fixed effects

Table 5
VARIABLES
OLS
age1539
1.912
[1.184]
age4069
-2.274***
[0.755]
black
-1.581**
[0.747]
asian
0.01
[0.096]
2.state_id
-0.052
Constant
11.282***
[0.545]
Observations
350
R-squared
0.994

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