Module overview
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
Learning Outcomes
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- violations of classical linear regression assumptions and their implications.
- basic regression programming in an econometric package
- models that account for violations of classical linear regression assumptions
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- test and correct for violations of classical linear regression assumptions
- critically evaluate regression estimates
- evaluate computer output from the OLS, Probit/Logistic, and 2SLS commands.
Syllabus
This module extends the discussion of econometrics presented in the second year module 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
Teaching and learning methods
Lectures and Masterclasses
Type | Hours |
---|---|
Teaching | 28 |
Independent Study | 122 |
Total study time | 150 |
Resources & Reading list
Textbooks
Introductory Econometrics: A Modern Approach. South-Western Cengage Learning.
Assessment
Assessment strategy
Assessment in this module is through two coursework assignments (each worth 15% of the final mark) to be worked on in groups and an end of module examination (70%). This is supported by continuous formative assessment in form of problem sets and online quizzes. This is the same for internal repeat. Assessment for external repeat and referral is through 100% end of module examination.
Summative
This is how we’ll formally assess what you have learned in this module.
Method | Percentage contribution |
---|---|
Problem sets | 15% |
Final Assessment | 70% |
Problem sets | 15% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
Method | Percentage contribution |
---|---|
Final Assessment | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
Method | Percentage contribution |
---|---|
Final Assessment | 100% |
Repeat Information
Repeat type: Internal & External