ACE 530
Applied Production Economics

Credit:  4 hours.


Econometric applications of the economic theory of production. Basic theory includes production functions; duality; cost functions; profit functions and parameters that can be derived from them such as returns to scale or substitution elasticity. Econometric issues include simultaneity bias, panel data, instrumental variables, generalized method of moments, functional forms, nonparametrics, and dynamics. Prerequisite: ECON 500 and ACE 562.