TOPICS IN APPLIED ECONOMETRICS - 2019/0
Module code: ECO3010
This module builds on the econometrics foundation from Introductory Econometrics and Intermediate Econometrics courses. The emphasis of this module is to introduce econometric techniques used to analyse microeconomic data. The first half of this module considers pooled cross section and panel data. The second half studies the modelling and estimation of limited dependent variable models that can be motivated by decision makings of individuals and/or firms.
SRISUMA Sorawoot (Economics)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 6
JACs code: L140
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
The course covers panel data methods (first differenced, between, within and random effect estimators), maximum likelihood estimation of limited dependent variables models (logit, probit, Poisson, censoring, truncation and selectivity).
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||1 COMPUTER BASED TEST ON NATURAL EXPERIMENT AND PANEL DATA (1 HOUR)||30|
|Examination||2 HOUR EXAMINATION||70|
The assessment strategy is designed to provide students with the opportunity to demonstrate:
Their understanding of econometric methods beyond simple linear regression framework that are commonly used in analysing microeconomic data, and the ability to use relevant computer packages to investigate real world economic problems.
Thus, the summative assessment for this module consists of:
- Mid-term computer-based class test in week 6, to be worth 30% of the final mark.
- Final written exam containing questions covering all 11 weeks. Worth 70% of the final mark. The exam has two sections. Section A contains four questions for students to choose three. Section B contains three questions for students to choose two. The allocation of questions will take into account that the materials in the first 5 weeks have partially been examined in the mid-term exam.
Formative assessment and feedback
Students receive verbal feedback during lectures through direct questioning (in which multiple questions and real-world examples of the use of economics are discussed). There are also homework assignments throughout the course, where feedback is provided for all individual questions.In addition to this, they receive guidance and illustrations to the use of Eviews and Stata.
- Equip the student with the ability to undertake, understand, and critically assess empirical work in economics, with a view to enabling the student to use micro-econometrics to catalogue and describe empirical regularities and test various propositions.
|1||Use Eviews/Stata to analyse microeconomic data sets.|
|2||To appreciate some of the advantages as well as problems associated with estimating panel data.|
|3||Have knowledge of the theory and application of panel data models with fixed and random effects.|
|4||Familiarity with modelling limited dependent variables, in particular models for corner solutions, counts, and binary outcomes.|
|5||Understand the concepts of censoring, corner solutions, truncation, sample selection, and their relationship.|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 128
Lecture Hours: 20
Laboratory Hours: 2
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
- Develop skills in modelling economic problems empirically and use computer packages to estimate and test various propositions
- Appreciate the intuition behind different econometric methods applied in different situations (theory and practice)
The learning and teaching methods include:
- 2 hour lecture / lab per week x 11 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.
Programmes this module appears in
|Economics BSc (Hons)||2||Optional||A weighted aggregate mark of 40% is required to pass the module|
|Economics and Finance BSc (Hons)||2||Optional||A weighted aggregate mark of 40% is required to pass the module|
|Economics and Mathematics BSc (Hons)||2||Optional||A weighted aggregate mark of 40% is required to pass the module|
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2019/0 academic year.