It should have many components of a final paper, including introduction, and literature review. If it is to be an empirical paper, it should include a discussion of data and econometric strategy, including anticipated problems and proposed solutions. If it is to be a theoretical paper, it should include preliminary results and proposed extensions. Again, students should feel free to consult with other professors. In the case of either a paper or a proposal, the research must be original, and lay the groundwork for a publishable paper.
Literature reviews are unacceptable.
Students should start on these early in the semester, and work on them throughout the semester. There are no required texts. However, students may find it helpful to have access to a number of good econometrics texts and monographs, especially those covering panel data, instrumental variables, and models with qualitatitive and limited dependent variables. Also, because students may not want copies of every paper, I have not made a course pack. However, I will make it possible for students to borrow copies of all of the readings for a short period of time.