Essay question Assignment Example | Topics and Well Written Essays - 500 words

Essay question - Assignment Example The Roman Empire was ruled Patricians and they were considered to be the most powerful ones in the region. It has been known that there was a lot of mismanagement and uneven distribution of wealth in the Roman Empire. The poor got poorer and rich got richer. The Roman leaders involved in battles, trying to capture territories of their allies, them being not present in the capital to handle state affairs and other such matters led to the Roman demise. Eventually, the death of Julius Ceaser proved to be the last nail in the coffin of once great and mighty Roman Empire and led to its demise. Clarifier: Before the 20th century, muckrakers were simple investigative journalists but with the start of 20th century they worked as reform journalist and started a movement to finish off corruption in the system. The Muckrakers are known as pioneers of proper investigative journalism in the history. Historical Significance: The muckrakers and their movement in the 1900s was aimed to improve the standard of journalism. The movement started in the early 1900s and was very popular till the Second World War. They worked to expose social ills in the society and to stop corruption in the system. After the Second World War this movement faced its end due to dirty political skills showed by the government. Clarifier: Sit-Down Strikes gave way to a new sort of protest so that the authorities would have no other option but to meet their demands in order to start the progress otherwise they would have to face huge losses. Historical Significance: History is full of examples of sit-down strikes in which workers of factories protested for raises or bonuses. One such example is the strikes of American factory workers during the industrial revolution. More than 3,000 workers stopped work and protested. Other notable examples include the strike of United Auto Workers and the French revolt which is marked till today on May 1st every year. Historical

Applied Econometrics Statistics Project Example | Topics and Well Written Essays - 1000 words

Applied Econometrics - Statistics Project Example Q.3. (10) What does the sign of the estimate on ln area in model (2) tell you about the sign of the correlation between slave exports and the size of the country? Hint: think about omitted variable bias. Due to omitted variable bias, there will be a bias as the coefficient of In exports picks up the part of the influence of ln area that was correlated with In exports. The sign of the estimate on ln area in model (2) is positive telling us that the expected sign of the correlation between slave exports and the size of the country is also positive. In model 1, the value of R2 is given as 0.25 similarly in model 3, the value of R2 is given as 0.25 this shows no change in the value of R2 implying that the included variable (population) has no effect on the model; the variable is irrelevant. Q.6. (10) Note that the standard error on ln exports in model (2) is higher than the standard error on ln exports in model (1). Comment (in detail) on what information this provides you regarding the specification of Model (2). Q.7. (15) While the idea of Nunn is interesting, it is unlikely that slave exports alone can explain why economic output is so low amongst African countries. Consider population density in 1400 AD as an additional explanatory variable. Acemoglu, Johnson and Robinson (2002) have shown that population density has a positive impact on economic prosperity. Comment (in detail) on the impact of the omission of this variable from Nunn’s empirical model. Â  Each observation (variable) affects the fitted regression equation differently and has a different influence on each variable; this may result to what we term as omitted variable bias (OVB). OVB occurs when a model is created which incorrectly leaves out one or more important causal factors. The "bias" is created when the model compensates for the missing factor by over- or underestimating the effect