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Your Task Is to Model Students' Choice for Taking an Additional

question 25

Essay

Your task is to model students' choice for taking an additional economics course after the first principles course. Describe how to formulate a model based on data for a large sample of students. Outline several estimation methods and their relative advantage over other methods in tackling this problem. How would you go about interpreting the resulting output? What summary statistics should be included?


Definitions:

SWOT Analysis

An examination of organizational strengths and weaknesses and environmental opportunities and threats.

Sustainability

Acting in ways that support a high quality of life for present and future generations.

Wealth

The abundance of valuable resources or material possessions, or the control of such assets which enables an individual or community to sustain and improve their well-being.

Strategic Management Process

A systematic approach to planning and guiding an organization’s strategy over time.

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