An intuitive introduction to instrumental variables and two stage least squares I teach an advanced undergraduate seminar on the economics of human capital where most of my students have taken just one econometrics or statistics course, but we have to read research articles that use more advanced methods. This video gives my students just enough about instrumental variables to read, interpret, and even critique articles that use the method. Intended audience: Folks who have had some exposure to linear regression models, but want to learn more statistical methods.