INTERMEDIATE ECONOMETRICS - 2022/3
Module code: ECO2010
In light of the Covid-19 pandemic the University has revised its courses to incorporate the ‘Hybrid Learning Experience’ in a departure from previous academic years and previously published information. The University has changed the delivery (and in some cases the content) of its programmes. Further information on the general principles of hybrid learning can be found at: Hybrid learning experience | University of Surrey.
We have updated key module information regarding the pattern of assessment and overall student workload to inform student module choices. We are currently working on bringing remaining published information up to date to reflect current practice in time for the start of the academic year 2021/22.
This means that some information within the programme and module catalogue will be subject to change. Current students are invited to contact their Programme Leader or Academic Hive with any questions relating to the information available.
This module follows on from Introductory Econometrics and considers econometric theory and methods when Gauss Markov assumptions fail to hold. The first half deals with stationary and nonstationary time series. The second half of this module introduces different examples of the endogeneity problem and their solutions.
VOLPICELLA Alessio (Economics)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 5
JACs code: L140
Module cap (Maximum number of students): N/A
Overall student workload
Independent Learning Hours: 75
Lecture Hours: 22
Tutorial Hours: 10
Guided Learning: 11
Captured Content: 32
Prerequisites / Co-requisites
ECO2047 (Introductory Econometrics) is a pre-requisite for this module
Indicative content includes:
- Introduction to time series methods, Distributed lag models, Autocorrelation
- Lag dependent variable models, Non-stationary time series
- Instrumental variables, two stage least squares
- Simultaneous equations
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||ASSESSMENT 1: MID-TERM||20|
|Examination||ASSESSMENT 2: EXAM||80|
The assessment strategy is designed to provide students with the opportunity to demonstrate:
Their understanding of basic econometric methods, and ability to apply these techniques to analyse time series data and linear models with endogeneity that may arise from omitted variables, unobserved heterogeneity or simultaneous equations.
Thus, the summative assessment for this module consists of:
- Midterm assessment is worth 30% of the final grade.
- Final exam is worth 70% of the final grade.
Formative assessment and feedback
Students receive verbal feedback during lectures and tutorials through direct questioning (in which multiple questions and real-world examples of the use of economics are discussed). In addition to this, they receive guideline solutions to tutorial questions, against which they can compare their own results. After the test feedback is provided for all individual questions.
- Introduce students to the techniques relevant for the estimation (i) of econometric time-series models and (ii) in the presence of endogenous variables.
- An important emphasis of the course is to give students with 'hands-on' learning experience of econometric analysis using a variety of economic data sets along side the theory. For this purpose, a number of datasets will be made available to undertake econometric analysis using the EViews software package.
|001||Understand a number of concepts relating to OLS estimation with time series data.||KCPT|
|002||Interpret econometric models with a variety of functional forms including those with lagged independent and dependent variables.||KCPT|
|003||Understand various forms of the endogeneity problem and the solutions that can be used to overcome it. This includes methods involving instrumental variables and estimation of simultaneous equations.||KCPT|
|004||Apply econometric techniques using E-views and interpret the output obtained.||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:
- Develop skills in analysing economic data in more realistic situations where Gauss Markov assumptions do not hold
- Appreciate the complexities of econometric analysis, understanding importance and intuition behind various estimation strategies and tests
The learning and teaching methods include:
- 2 hour lecture per week x 11 weeks
- 1 hour lab session / tutorials 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.
Upon accessing the reading list, please search for the module using the module code: ECO2010
Programmes this module appears in
|Economics and Finance BSc (Hons)||2||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
|Economics BSc (Hons)||2||Compulsory||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 2022/3 academic year.