Reference no: EM131153998

Project Milestone: Econometric Model Selection

Note; FOUR PAGES

Submit a report of the topic you have chosen and the data available to conduct a review of this topic. In your introduction, describe what guides the selection of appropriate econometric models in studies of interactions between environmental and economic variables. Specifically discuss the economic situation, theory, identified needs, and application of models to address the problem. In addition, briefly describe data collection techniques for analyzing the market, stated preference, and revealed preference techniques. This introduction should be general in nature, but appropriate for both technical and non-technical audiences

Milestone

Your economic impacts and results paper should answer the following question:

Based on the measurement of environmental-economic impacts examined during this course, what information would non-economists need in order to understand the implications of these situations so that they can determine possible benefits of future studies?

Milestone One consists of an introductory report on the topic you have chosen and the data available to conduct a review of this topic. In your introduction, describe what guides the selection of appropriate econometric models in studies of interactions between environmental and economic variables. Specifically, discuss the economic situation, theory, identified needs, and application of models to address the problem. In addition, briefly describe data collection techniques for analyzing the market, stated preference, and revealed preference techniques. This introduction should be general in nature, but appropriate for both technical and non-technical audiences.

Specifically, the following critical elements must be addressed:

Introduction

A. In general, what guides the selection of appropriate econometric models in studies of interactions between environmental and economic variables? Specifically discuss the economic situation, theory, identified needs, and application of models to address the problem.

B. Briefly describe data collection techniques for analyzing market, stated preference, and revealed preference techniques.

Guidelines for Submission: Milestone One must be two to three pages in length with double spacing, 12-point Times New Roman font, one-inch margins, and APA citations.