Introduction to Econometrics

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• apply logical analysis using econometric models to address economic questions, for instance by setting up statistical tests
• use data for statistical inference on the quantitative or qualitative workings of economic mechanisms.
• abstract the essential features of complex systems and specify econometric models to assess the effects of exogenous changes.
• organise, analyse and present economic data in an informative manner.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• use quantitative reasoning and analyse and interpret data using standard statistical software.

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• statistical methods used in economics for small and large datasets, such as the classical linear regression model.
• fundamental econometric methods to analyse economic data.

Topics covered are:

• Revision of basic probability concepts and the simple linear regression model.
• An introduction to econometric modelling of economic data.
• Least squares inference in the simple linear regression model.
• The multiple regression model: Testing and models specification.

This module will cover both techniques of estimation and methods for testing and evaluating results. Emphasis is placed on providing you with practical experience of working with actual economic datasets and using a standard econometric package (such as Stata) for data analysis.

Teaching and learning methods

Lectures, masterclasses and computer-based tutorial sessions.

Resources & Reading list

Textbooks

L. Adkins, R.C. Hill (2015). Using Stata for the Principles of Econometrics. John Wiley.

R.C. Hill, W.E. Griffiths, G.C. Lim (2018). Principles of Econometrics. John Wiley.

Assessment strategy

Coursework in form of problem sets and data analysis assignments during the semester and a final exam, supported by continuous formative assessment in form of problem sets and data analysis exercises. This is the same for an internal repeat. Assessment for external repeat and referral is thorugh final exam only.

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