Discuss both the strengths and weaknesses of the data you will be using. Briefly summarize what you have learned from the descriptive statistics.

Describe the theoretical model upon which you will develop your empirical work. This theoretical model describes the relationship between your dependent and explanatory variables. Ideally, you will provide a general view of the problem followed by a discussion of the main components or specific variables.
• The Data: In this section you will describe the data that you use. Present a table of descriptive statistics and possibly some graphics for the dependent and explanatory variables that you use. Discuss both the strengths and weaknesses of the data you will be using. Briefly summarize what you have learned from the descriptive statistics.
• Empirical Model: This section will describe the models that you will estimate. Discuss what functional form you will use (level-level, log-level, etc). Discuss the empirical measures for each of the variables, units, etc. Discuss changes in specification.
• Empirical Results: In this section, you should present and use your empirical results. You must provide a table that succinctly summarizes the empirical results you obtain. Apply concepts, techniques and methods learned in class.
• Conclusion: You should briefly describe what you have learned from completing the project. Does your empirical work provide support for the theory? Do the results seem reasonable in light of your knowledge of economics and economics literature? What additional work would you carry out if you had more time?