# INTRODUCTORY ECONOMETRICS - 2019/0

Module code: ECO2047

## Module Overview

This module will provide students with the basic mechanics, both in terms of the theoretical background and the practical skills, for carrying out applied econometrics. Throughout there is an emphasis on understanding the assumptions of the methods so as gain an appreciation of what such techniques can and cannot deliver. An important part of the course is the training in the use of the econometrics software package, Stata.

### Module provider

Economics

MARTELLOSIO Federico (Economics)

### Module cap (Maximum number of students): N/A

Independent Learning Hours: 118

Lecture Hours: 22

Tutorial Hours: 10

Semester 1

None

## Module content

Indicative content includes:

• The relationship between economic and econometric models

• Simple OLS regressions

• Multiple OLS regression

• Properties of OLS regression

• Dummy variables

• Model specification

• Heteroskedasticity

• Introduction to time series data

## Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test ONE MULTIPLE CHOICE TEST (45 MINUTES) 15
School-timetabled exam/test ONE COMPUTER LAB TEST (45 MINUTES) 15
Examination EXAMINATION (120 MINUTES) 70

Not applicable

## Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate:

Their understanding of econometric modelling, and their ability to use the econometric computer package Stata.

Thus, the summative assessment for this module consists of:

• One Multiple Choice test in week 7. This will provide students with an assessment of their understanding of basic concepts studied in weeks 1-6. Worth 15% of the final mark.

• One computer lab test in week 11. This will test students’ ability to produce and interpret econometric results using the econometric package STATA. Worth 15% of the final mark.

• 2 hour examination. Lab Examination. Students are required to solve exercises and answer theoretical questions. Worth 70% of the final mark.

Formative assessment and feedback

Students receive verbal feedback during both lectures and tutorials. During lectures, smaller questions and exercises are discussed, while the problems discussed in tutorials are more substantial. After the test, students receive verbal and written feedback in the form of correct answers and a discussion of common mistakes.

## Module aims

• introduce students to basic econometric techniques
• provide students with the tools necessary for the correct interpretation of empirical work in economics
• train students to use the econometrics software package, Stata.

## Learning outcomes

 Attributes Developed 1 Be able to formulate economic hypotheses as statistical tests and be able to carry out these tests and interpret their results KC 2 Be able to show how regression analysis can be implemented using econometric software KCP 3 Have gained experience in the analysis and use of empirical data in economics KC 4 Have learnt how to turn an economic model into an econometric model KC 5 Be able to provide an economic interpretation of parameters (e.g. in levels and elasticities) KC

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

## Methods of Teaching / Learning

The learning and teaching strategy is designed to:

• Enhance skills in interpreting econometric results

• Train students to learn how to manipulate data and extract information from economic dataset by means of econometric software

The learning and teaching methods include:

• 2-hour lecture per week, x 11 weeks

• 1-hour class devoted to solving problems sets in a computer lab per week x 10 weeks

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.