ECONOMETRICS 1 - 2020/1
Module code: ECOM042
This module is an introduction to the methods of specification, estimation and testing of econometric models in a general multivariate setting. The techniques are applied to real data making use of the econometric packages EViews and Stata.
GABRIEL Vasco (Economics)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 7
JACs code: L140
Module cap (Maximum number of students): N/A
Overall student workload
Independent Learning Hours: 121
Lecture Hours: 20
Laboratory Hours: 9
Prerequisites / Co-requisites
Indicative content includes:
- Multiple Regression analysis using cross sectional data.
- Asymptotic properties of OLS
- Regression analysis using qualitative information.
- Functional form.
- Instrumental variables estimation
- Econometric models with time series
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||IN-SEMESTER TEST - 50 MINUTE LAB TEST||50|
|Examination||EXAMINATION - 1 HOUR 30 MIN||50|
Coursework exercise which can be completed off-campus.
The assessment strategy is designed to provide students with the opportunity to demonstrate their ability to understand and carry out econometric techniques.
This module has a technical and a practical component. The latter is, at this level, more important. As such, assessment emphasises work based on econometric and statistical packages (mainly EViews) in the form of an lab test (delivered via SurreyLearn), in which students are asked to analyse real economic and financial data. The technical component is assessed via a final examination.
Thus, the summative assessment for this module consists of:
50% In-semester test: 50 minute lab test, typically in Week 7, which includes the use of an econometric package
50% Examination in Week 13-14: 1 hour and 30 minutes
Formative assessment and feedback
This is done by specific, individualised written comments, feedback meetings with students and general feedback in classes.
- Provide the student with the theoretical and practical skills necessary to construct state of the art, single and multi-equation econometric models. The module will 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 econometrics to catalogue and describe empirical regularities and test various propositions.
|001||Systematically understand the principles of estimation and hypothesis testing in a multivariate setting||KCT|
|002||Demonstrate comprehensive knowledge of the properties of different estimators and tests||KCT|
|003||Demonstrate a practical understanding of the application of econometric techniques to actual data using computer packages||KCPT|
|004||Be critically aware of the assumptions made in building econometric models||KCT|
|005||Write up the results of a study of an economic problem that includes econometric analysis, demonstrating the ability to communicate clearly their findings and evaluate critically state-of-the-art empirical research in that field of economics||KCPT|
|006||Proficiently use the time series testing and estimation capabilities of a range of packages, evaluating the relative merits of competing methodologies||KCPT|
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:
- prepare the students for the study of economics and econometrics at FHEQ Level 7 (first week)
- give students the theoretical tools they need to go out and analyse real world situations;
- encourage rigour in their approach to problems;
- encourage hands-on study of empirical problems;
The learning and teaching methods include:
- readings using lecturers guidance
- solving exercises
- responding to questions in class
- preparing and taking part in the test
- 4.5 hours of lectures per week x 1 week
- 2 hour lecture per week x 10 weeks
- 1 hour lab classes x 9 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.
Upon accessing the reading list, please search for the module using the module code: ECOM042
Programmes this module appears in
|International Economics, Finance and Development MSc||1||Compulsory||A weighted aggregate mark of 50% is required to pass the module|
|Economics MSc||1||Compulsory||A weighted aggregate mark of 50% is required to pass the module|
|Economics and Finance MSc||1||Compulsory||A weighted aggregate mark of 50% 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 2020/1 academic year.