EC452-7-AU-CO:
Introductory Econometrics
2024/25
Economics
Colchester Campus
Autumn
Postgraduate: Level 7
Current
Thursday 03 October 2024
Friday 13 December 2024
20
20 August 2024
Requisites for this module
(none)
(none)
(none)
(none)
EC963
MA L10012 Economics,
MA L100EB Economics,
MA L11312 Financial Economics,
MA L16112 International Economics,
MA L10512 Management Economics,
MSC L16512 Quantitative International Development,
MA L14312 Economics with Public Policy
This module provides an introduction to the econometric methods commonly used to analyse economic data. The focus of the module is on linear regression and the ordinary least squares (OLS) estimation procedure. This is introduced after a review of basic probability, random variables, simple descriptive statistics and the concept of hypothesis testing.
Students will then be taught about how t-tests and F-tests can be used to make inferences about the estimated parameters in economic models and what diagnostic tests are available to test some of the assumptions of the regression model. The module then moves on to consider further model specification and data issues as well as the concept of heteroskedasticity before concluding with methods appropriate for the analysis of time series data. The methods will be illustrated throughout using the R software package with real-world economic data.
The aims of this module are:
- To carry out simple statistical and econometric calculations and understand how these methods are used with real data.
- To understand and assess critically empirical findings reported in the applied economics literature.
- To use the linear regression model and econometric methods developed for it to conduct a simple econometric investigation of an empirical issue of interest.
- To develop problem-solving analytical and deductive skills.
By the end of this module, students will be expected to be able to:
- Apply econometric methods to real world data and perform statistical and econometric analysis.
- Perform and understand econometric tests and Statistical inference.
- Understand and critically assess empirical economic findings.
- Formulate coherent written statistical analyses and assessments of the subject in the preparation of an assignment and in more concise examination answers.
Syllabus
- Review of Probability
- Review of Statistics
- The Simple Regression Model
- Multiple Regression Analysis. Estimation
- Multiple Regression Analysis: Inference
- Multiple Regression Analysis. Further Inference and Asymptotics
- Further Specification and Data Issues
- Heteroskedasticity
- Regression Analysis with Time Series Data
- Review and the Econometrics Exercise
The module will be delivered via:
- Two lecture hours per week for ten weeks in the Autumn term.
One class hour per week would be held for specific purposes (to provide guidance and support for assignment preparation, problem sets, and discussion of topical issues related to the module's material). Laboratories will also be held as needed to support statistical work.
The above list is indicative of the essential reading for the course.
The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students.
Further reading can be obtained from this module's
reading list.
Assessment items, weightings and deadlines
| Coursework / exam | Description | Deadline | Coursework weighting |
|---|
| Coursework | Exercise | 17/01/2025 | 100% |
| Exam | Main exam: In-Person, Open Book, 120 minutes during Summer (Main Period)
|
| Exam | Reassessment Main exam: In-Person, Open Book, 120 minutes during September (Reassessment Period)
|
Exam format definitions
- Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
- In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
- In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
- In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary,
for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.
Your department will provide further guidance before your exams.
Overall assessment
Reassessment
Module supervisor and teaching staff
Prof Marcus Chambers, email: mchamb@essex.ac.uk.
Lectures and Classes: Prof Marcus Chambers / Labs: Mr Mohsen Eshraghi
For further information, send an email message to pgteco@essex.ac.uk.
Yes
No
Yes
Miss Maria Kyriacou
Available via Moodle Of 47 hours, 47 (100%) hours available to students:
0 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s), module, or event type.
Economics
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