Methods of Econometrics

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:

• critically evaluate regression estimates
• evaluate computer output from the OLS, Probit/Logistic, and 2SLS commands.
• test and correct for violations of classical linear regression assumptions

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.

Teaching and learning methods

Lectures and Masterclasses

Resources & Reading list

Textbooks

Introductory Econometrics: A Modern Approach. South-Western Cengage Learning.

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.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

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.

Repeat Information

Repeat type: Internal & External