Module Information

Module Identifier
AB23420
Module Title
Econometrics
Academic Year
2020/2021
Co-ordinator
Semester
Semester 2
Pre-Requisite
Other Staff

Course Delivery

 

Assessment

Assessment Type Assessment length / details Proportion
Semester Exam 3 Hours   70%
Semester Assessment 1 Hours   Class based unseen test.  10%
Semester Assessment Group based coursework project  (1,000 words per person).  20%
Supplementary Exam 3 Hours   (Students must take elements of assessment equivalent to those that led to failure of the module.)  70%
Supplementary Assessment (Students must take elements of assessment equivalent to those that led to failure of the module.)  30%

Learning Outcomes

On successful completion of this module students should be able to:

1. Demonstrate familiarity with and an appreciation of the need for statistical foundations behind regression analysis.

2. Estimate regression models using a statistical package, and interpret and critically evaluate the results of a regression analysis.

3. Apply and interpret key diagnostic tests.

4. Describe remedies for problems associated with the violation of assumptions underlying the linear regression model.

5. Critically assess the policy implications of econometric models in a range of contexts.

Brief description

This module introduces essential quantitative tools used in economic research to analyze economic data and model economic phenomena. The module presents a detailed and in-depth treatment of the method of ordinary least squares (OLS) used in estimating quantitative relationship between economic variables, the assumptions behind the appropriate use of OLS, the implications of the violation of such assumptions and the remedial measures.

Content

• Introduction to econometrics
• Primer to regression analysis
• Ordinary Least Squares estimation
• Two-variable and multiple regression models
• Hypothesis testing
• Regression models using qualitative data
• Violation of the assumptions:
- Multicollinearity
- Heteroscedasticity
- Autocorrelation
- Non-Normality

Module Skills

Skills Type Skills details
Application of Number Development of quantitative (mathematical, statistical, econometric) skills.
Communication Development of oral and written communication including data response.
Improving own Learning and Performance Development of quantitative analytical skills instrumental for learning in other modules.
Information Technology Use of statistical (computer) software for data and regression analysis.
Personal Development and Career planning Development of quantitative analytical skills useful in a wide range of professions and in further study.
Problem solving Identifying the problem to be solved Finding pertinent data in order to solve the problem. Application of appropriate methods and statistical tools for solving the problem Understanding and interpretation of results.
Research skills Basic Research Skills pertaining to operationalization of economic theory into testable propositions. Testing these propositions using appropriate data and statistical techniques Analysis of economic data.
Subject Specific Skills Use of statistical computer software to assess economic performance. Economic and policy analysis (in other subject areas of economics).
Team work Team working skills through self-study working groups.

Notes

This module is at CQFW Level 5