ECON 2500 Lecture 4: AP ECON 2500 F16 Session 4
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ECON 2500 Full Course Notes
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Ap econ 2500 f16 session 4, oct 3 and 5. Topics covered: sources of data, design of experiments, sampling design. Sources of data: anecdotal data, available data, sample surveys and experiments, observation vs. experiment. Obtaining data: available data are data that were produced in the past for some other purpose but that may help answer a present question inexpensively. The library and the internet are sources of available data: beware of drawing conclusions from our own experience or hearsay. Anecdotal data represent individual cases that often come to our attention because they are striking in some way. We tend to remember these cases because they are unusual. The fact that they are unusual means that they may not be representative of any larger group of cases: some questions require data produced specifically to answer them. This leads to designing observational or experimental studies. A friend tells you that she received a flu shot and then got the flu.
