ECON2032 Methods of Econometrics
The module will enable you to apply statistical techniques to the estimation and testing of economic models and thereby provide you with the skills necessary both to undertake your own empirical studies and to evaluate empirical work in the published literature.
Aims and Objectives
To enable you to apply statistical techniques to the estimation and testing of economic models and thereby provide you with the skills necessary both to undertake your own empirical studies and to evaluate empirical work in the published literature.
Having successfully completed this module you will be able to:
- Understand the implications, test and correct violations of classical linear regression assumptions.
- Demonstrate knowledge and understanding of models that account for such violations
- Demonstrate knowledge and understanding of basic regression programming in an econometric package
- Evaluate computer output from the OLS, Probit/Logistic, and 2SLS commands.
- Critically evaluate regression estimates
This module extends the discussion of econometrics presented in the second year module ECON2026 (Introduction to Econometrics), focusing on issues that arise in applying the classical linear regression model to actual economic data. We examine the problems associated with specifying economic models in forms which are amenable to estimation and testing using available economic data. Consideration is given to the nature of economic data - the methods by which it is collected and compiled and the difficulties these may present for the applied economist. Methods for testing model specification and alternative techniques for handling problems of misspecification are discussed. The course provides practical experience of applying econometric techniques to economic data using standard statistical software.
Learning and Teaching
|Total study time||150|
Resources & Reading list
Principle of Econometrics.
Introductory Econometrics: A Modern Approach.
|Exam (2 hours)||80%|
To study this module, you will need to also study the following module(s):
|ECON2026||Introduction to Econometrics|