EC30920 - INTRODUCTION TO ECONOMETRICS

Module Identifier

EC30920

Module Title

INTRODUCTION TO ECONOMETRICS

Academic Year

2005/2006

Co-ordinator

Dr Mark J Rhodes

Semester

Semester 2 (Taught over 2 semesters)

Other staff

Mr Kobil Ruziev

Pre-Requisite

EC10210 , EC10320 , EC10910 OR, EC10510 , EC10610 and appropriate quantitative background OR appropriate mathematics and statistics modules

Course delivery

Lecture

Seminars / Tutorials

Practical

6 PC practical workshops

Assessment

Assessment Type	Assessment Length/Details	Proportion
Semester Exam	3 Hours	70%
Semester Assessment	2 pieces of coursework	30%
Supplementary Assessment	3 Hours exam and/or resubmission of coursework	100%

Learning outcomes

Having completed the module students will be able to:

recognise a set of results from an OLS regression
carry out a regression using microfit
recognise key diagnostic tests
describe the various remedies of these problems
assess the policy implications of econometric models

Aims

This module introduces students to linear regression in economics, and the estimation, inference and hypothesis testing procedures involved. It builds from this introduction to help students to understand the implications of the failure of the assumptions which are fundamental to Ordinary Least Squares (autocorrelation, heteroscedasticity and multicollinearity) and the remedies to these failures.

Brief description

This module presents the basics of econometrics governing failure of the Gauss Markov assumptions and the remedy to these problems.

Content

Description of an Ordinary Least Squares regression
Key Gauss-Markov assumptions
Dummy variables
Multicollinearity
Autocorrelation + heteroskedasticity
Erros in the variables

Transferable skills

Independent work on assessed coursework requiring basic researching skills
Use of statistical computer software to assess economic performance
General economic and financial analysis of contemprary issues

Reading Lists

Books
** Recommended Text
C Dougherty (1992) Introduction to Econometrics Oxford University Press (HB139.D7)
J Stewart (1991) Econometrics Philip Allan (HB139.S8)
D N Gujarati (1997) Basic Econometrics 3rd edition. McGraw Hill (HB139.G9)
G Koop (2000) Analysis of Economic Data Wiley

Notes

This module is at CQFW Level 6