[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- [Narrator] On his quest \Nto master econometrics,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Grasshopper Kamal has \Nmade great progress
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,stretching his capabilities \Nand outsmarting his foes.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Alas, today he's despondent.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,For one challenge remains unmet.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Kamal cannot yet decode \Nthe scriptures of academic research,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,journals like \N"The American Economic Review"
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and "Econometrica."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,These seemed to him to be inscribed \Nin an obscure foreign tongue.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- [Kamal] Ugh, what the... ?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- [Narrator] These volumes are \Nopaque to novice, Kamal,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,but can be deciphered with study.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Let us learn to read them together.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Let's dive into the West Point study,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,published in the "Economics \Nof Education Review."
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,This paper reports \Non a randomized evaluation
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of student electronics use \Nin Economics 101 classrooms.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,First, a quick review \Nof the research design.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- Okay.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- [Josh] 'Metrics masters \Nteaching at West Point,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the military college that trains \NAmerican Army officers
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,designed a randomized trial\Nto answer this question.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,These masters randomly assigned\NWest Point cadets
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,into Economics classes\Noperating under different rules.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Unlike most American colleges,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the West Point default \Nis no electronics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,For purposes of this experiment,\Nsome students were left
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in such traditional \Ntechnology-free classes,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,no lap tops, no tablets \Nand no phones!
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,[voice echoes]
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,This is the control group,\Nor baseline case.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Another group was allowed\Nto use electronics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,This is the treatment group,\Nsubject to a changed environment.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The treatment in this case\Nis the unrestricted use
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of laptops or tablets in class.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Every causal question \Nhas a clear outcome,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,the variables we hope to influence\Ndefined in advance of the study.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The outcomes in the West Point\Nelectronics study
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,are final exam scores.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The study seeks to answer\Nthe following question,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,what is the causal effect \Nof classroom electronics on learning
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,as measured by exam scores?
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- Economics journal articles \Nusually begin with a table
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of descriptive statistics,\Ngiving key facts
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,about the study sample.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- Oh my gosh, I remember this table,\Nso confusing!
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Columns 1 to 3 report mean,\Nor average, characteristics.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,These give a sense \Nof who we're studying.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Let's start with column 1 \Nwhich describes covariates
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,in a control group.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Covariates are characteristics \Nof the control and treatment groups
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,measured before \Nthe experiment begins.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,For example, we see the control group\Nhas an average age a bit over 20.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Many of these covariates \Nare dummy variables.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,A dummy variable can only have \Ntwo values, a zero or a one.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,For example, student gender\Nis captured by a dummy variable
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,that equals one for woman\Nand zero for man.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The mean of this variable \Nis the proportion female.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,We also see that the control group \Nis 13% Hispanic
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and 19% had prior military service.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The table notes are key.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Refer to these \Nas you scan the table.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,These notes explain what's shown \Nin each column and panel.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,The notes tell us, for example,\Nthat standard deviations
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,are reported in brackets.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Standard deviations tell us how\Nspread out the data are.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,For example, a standard deviation \Nof 0.52 tells us that most
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,of the control group's GPAs\Nfall between 2.35,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,which is 0.52 below \Nthe mean GPA of 2.87,
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,and 3.39, which is 0.52 above 2.87.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,A lower standard deviation\Nwould mean the GPAs were
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,more tightly clustered \Naround the mean.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- [Kamal] Yeah, but they're missing\Nfrom most of the variables.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,- [Narrator] That's right.
Dialogue: 0,9:59:59.99,9:59:59.99,Default,,0000,0000,0000,,Masters usually omit \Nstandard deviations for dummies.