Key Ideas #1

I. A Century of Labor Market Action

• Important long-run trends and changes
• The Great Recession: What just happened?
• Data sources and methods 
• Measurement problems

II. Labor Supply (Part 1)

• Slutsky for labor
• Application to tax and transfer programs
• Budget set bonanza
• Estimates

III. Metrics (recitation)

• Regression review
• Measurement error models and measurement error consequences
• Maximum likelihood estimation of Probit
• IV and 2SLS basics